Recently, Intel Foundry Services (IFS) announced a new foundry agreement with Israeli semiconductor foundry Tower Semiconductor.
According to the agreement, Intel will provide foundry services and 300mm manufacturing capacity to help Tower Semiconductor serve its global customers. Tower Semiconductor will also purchase approximately US$300 million in fixed assets located in Intel's New Mexico factory, allowing the two parties to further develop new cooperation methods.
Tower Semiconductor CEO Russell Ellwanger said, "We believe this is the first step towards a variety of unique collaborative solutions with Intel." The cooperation with Intel will enable us to meet customer needs, with a special focus on advanced power management and radio frequency silicon on insulator (RF SOI) solutions, and plans to conduct complete process flow certification in 2024.
According to the data, in February 2022, Intel announced that it would acquire Tower Semiconductor, an Israeli semiconductor foundry, for US$5.4 billion. On August 16, 2023, Intel stated that due to the failure to obtain regulatory approval in a timely manner, Intel Corporation and Tower Semiconductor had jointly agreed to terminate the previously disclosed acquisition agreement. For this, Intel will pay High Tower a termination fee of $353 million.
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