Intel to acquire Tower Semiconductor for USD 5.4 Bn

Intel established Intel Foundry Services in 2021 to meet the growing demand for semiconductors.

Intel Corporation has plans to acquire Tower Semiconductor, a leading foundry for analog semiconductor solution, for approximately USD 5.4 billion. The acquisition will help Intel advance its IDM 2.0 strategy as the company further expands its manufacturing capacity, global footprint and technology portfolio to address unprecedented industry demand.

“Tower’s speciality technology portfolio, geographic reach, deep customer relationships and services-first operations will help scale Intel’s foundry services and advance our goal of becoming a major provider of foundry capacity globally,” said Intel CEO Pat Gelsinger.

Intel established Intel Foundry Services in 2021 to meet the growing demand for semiconductors. 


Sign up for your weekly dose of what's up in emerging technology.

Intel plans to close the deal in 12 months. IFS and Tower Semiconductor will operate independently until the deal is completed. Intel plans to incorporate both IFS and Tower Semiconductor into a fully integrated foundry business. Until the deal is closed, IFS will be led by Dr Randhir Thakur, president of Intel Foundry Services, while Tower Semiconductor will be headed by Russell Ellwanger, Chief Executive Officer of Tower Semiconductor.

Intel with its strong research and development capabilities combined with Tower’s expertise in technology and manufacturing footprint will complement Intel’s IFS capabilities in leading-edge processes, and help provide broader offerings to customers at scale.

More Great AIM Stories

SharathKumar Nair
Sharath is an ardent believer in the ‘Transhumanism’ movement. Anything and everything about technology excites him. At Analytics India Magazine, he writes about artificial intelligence, cybersecurity and the impact these emerging technologies have on day-to-day human lives. When not working on a story, he spends his time reading tech novels and watching sci-fi movies and series.

Our Upcoming Events

Conference, in-person (Bangalore)
Machine Learning Developers Summit (MLDS) 2023
19-20th Jan, 2023

Conference, in-person (Bangalore)
Rising 2023 | Women in Tech Conference
16-17th Mar, 2023

Conference, in-person (Bangalore)
Data Engineering Summit (DES) 2023
27-28th Apr, 2023

Conference, in-person (Bangalore)
MachineCon 2023
23rd Jun, 2023

Conference, in-person (Bangalore)
Cypher 2023
20-22nd Sep, 2023

3 Ways to Join our Community

Whatsapp group

Discover special offers, top stories, upcoming events, and more.

Discord Server

Stay Connected with a larger ecosystem of data science and ML Professionals

Subscribe to our newsletter

Get the latest updates from AIM