The Limited Times

Now you can see non-English news...

Crazy exit: Intel on its way to acquire the Israeli chip company "Tower" Israel today

2022-02-15T09:07:15.103Z


Chip giant Intel on the way to acquire the Israeli company for $ 6 billion • It is estimated that the companies may announce the deal this week


Intel is set to acquire the Israeli company Tower for $ 6 billion, according to a report by the Wall Street Journal.

Intel is an American chip giant and according to reports, it will buy the Israeli chipmaker from Migdal Haemek.

Since the report, Tower shares have soared 49 percent in New York trading.

According to estimates, the companies may announce the deal later this week.

If the deal goes through, it will be Intel's biggest acquisition after Mobilai, for which it paid $ 15 billion in 2017.

Intel on the way to another acquisition, Photo: Reuters

In the last two years, the global chip market has experienced a great shortage.

Due to this, there is an increased demand for chips that the Israeli Tower manufactures.

The company manufactures technologies that are an integral part of major trends today, such as electric vehicles and the autonomous vehicle revolution, fifth generation, Internet of Things (IoT) and more.

Tower works with a wide range of customers and provides a wide range of manufacturing platforms tailored to the different needs of many markets, including consumer products, infrastructure, cellular, industry, automotive, medicine, security, aerospace and aerospace.

The company has eight manufacturing plants: in Israel, Europe, the USA and Japan. The company has about 1,500 in Israel at two sites in the north and center. The company has a total of more than 500,000 employees worldwide.

If this acquisition goes ahead, it will expand Intel's capabilities in terms of its production capacity, given the lack of chips in the world, and the ambition of many companies to increase their production capacity.

In addition, Tower works using unique and specific technologies in critical areas such as autonomous vehicles, aerospace, medical equipment and more.

Through the acquisition of the company, Intel will receive both unique technologies and a wide range of leading customers that Tower provides them with manufacturing platforms.

The companies include Toyota, NASA and world-leading companies.

Tower Semiconductor,



In January, Intel announced that it plans to invest at least $ 20 billion in new chip manufacturing capacity in Ohio, reinforcing the company's manufacturing ambitions.

As mentioned, greater demand for digital products and global shortage of chips have increased the need for chip manufacturing.

Intel CEO Pat Glasinger said the site in Ohio could eventually grow to accommodate eight chip factories, with expenses likely to reach about $ 100 billion over the next decade.



Were we wrong?

Fixed!

If you found an error in the article, we'll be happy for you to share it with us

Source: israelhayom

All news articles on 2022-02-15

You may like

Business 2024-01-30T05:09:40.728Z

Trends 24h

News/Politics 2024-03-27T16:45:54.081Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.