Intel to Acquire Tower Semiconductor for $5.4 Billion

[Dark Kaeser]

Intel to Acquire Tower Semiconductor for $5.4 Billion

Intel Corporation (Nasdaq: INTC) and Tower Semiconductor (Nasdaq: TSEM), a leading foundry for analog semiconductor solutions, today announced a definitive agreement under which Intel will acquire Tower for $53 per share in cash, representing a total enterprise value of approximately $5.4 billion. The acquisition significantly advances Intel’s IDM 2.0 strategy as the company further expands its manufacturing capacity, global footprint and technology portfolio to address unprecedented industry demand.

Tower’s expertise in specialty technologies, such as radio frequency (RF), power, silicon-germanium (SiGe) and industrial sensors, extensive IP and electronic design automation (EDA) partnerships, and established foundry footprint will provide broad coverage to both Intel and Tower’s customers globally. Tower serves high-growth markets such as mobile, automotive and power. Tower operates a geographically complementary foundry presence with facilities in the U.S. and Asia serving fabless companies as well as IDMs and offers more than 2 million wafer starts per year of capacity – including growth opportunities in Texas, Israel, Italy and Japan.

https://www.intel.com/content/www/us/en/newsroom/news/feb-2022-corporate-news.html

Bom, a Intel parece estar a levar o IDM2.0 a sério.
A Tower é pequena relativamente à Intel, mas tem aquilo que falta à Intel, não tendo leading Edge, tem a chamada "specialty foundry" e parceiros e clientes estabelecidos.

 

[Dark Kaeser]

Terminou o prazo e a aquisição não foi para a frente

Intel Announces Termination of Tower Semiconductor Acquisition​

SANTA CLARA, Calif., Aug. 16, 2023 – Intel Corporation (Nasdaq: INTC) today announced that it has mutually agreed with Tower Semiconductor (Nasdaq: TSEM) to terminate its previously disclosed agreement to acquire Tower due to the inability to obtain in a timely manner the regulatory approvals required under the merger agreement, dated Feb. 15, 2022. In accordance with the terms of the merger agreement and in connection with its termination, Intel will pay a termination fee of $353 million to Tower.

https://www.intel.com/content/www/us/en/newsroom/news/intel-news-aug-2023.html#gs.3x5l46

como tinha dito na altura do anúncio, a importância da aquisição era mais no sentido de a Tower ter uma vasta experiência em ser uma Foundry, coisa que falta à Intel, apesar dos seus processos de fabrico mais avançados.

 

[Dark Kaeser]

Terminou o prazo e a aquisição não foi para a frente

Intel Announces Termination of Tower Semiconductor Acquisition​

https://www.intel.com/content/www/us/en/newsroom/news/intel-news-aug-2023.html#gs.3x5l46

como tinha dito na altura do anúncio, a importância da aquisição era mais no sentido de a Tower ter uma vasta experiência em ser uma Foundry, coisa que falta à Intel, apesar dos seus processos de fabrico mais avançados.

Afinal...

Intel Foundry Services and Tower Semiconductor Announce New US Foundry Agreement​

Intel Foundry Services (IFS) and Tower Semiconductor (Nasdaq: TSEM), a leading foundry for analog semiconductor solutions, today announced an agreement where Intel will provide foundry services and 300mm manufacturing capacity to help Tower serve its customers globally. Under the agreement, Tower will utilize Intel’s advanced manufacturing facility in New Mexico. Tower will invest up to $300 million to acquire and own equipment and other fixed assets to be installed in the New Mexico facility, providing a new capacity corridor of over 600,000 photo layers per month for Tower’s future growth, enabling capacity to support forecasted customer demand for 300mm advanced analog processing.

This agreement demonstrates the commitment from both Intel and Tower to expand their respective foundry footprints with unparalleled solutions and scaled capabilities. Intel will manufacture Tower’s highly differentiated 65-nanometer power management BCD (bipolar-CMOS-DMOS) flows, among other flows at Intel’s Fab 11X in Rio Rancho, New Mexico.

For Tower, this is the next step in its path to increased scale, serving an expanding customer base in 300mm technologies led by strong market adoption of its industry-leading 65nm BCD power and RF SOI technologies. Specifically, Tower’s 65nm BCD technology offers customers improved power efficiency, die-size and die cost through its best-in-class Rdson figure of merit. Similarly, Tower’s 65nm RF SOI technology helps its customers reduce handset battery consumption while improving wireless connections through its best-in-class RonCoff figure of merit.

https://www.intel.com/content/www/us/en/newsroom/news/sept-2023-manufacturing-news.html#gs.5bg9w3

... falhou a aquisição, pagou ~350M$ à Tower, e agora anunciam um acordo em que a Tower vai "investir" 300M$ numa FAB da Intel

E ainda, uma das FAB da Intel vai produzir algo que nunca fizeram RF-SOI.

Intel Foundry Services to Make 65nm Chips for Tower Semiconductor​

IFS will produce chips for Tower starting from 2024, when Tower's process flow is qualified at its fab. In return, Tower plans to invest up to $300 million in procuring of fab tools and other fixed assets for Intel's Fab 11X.

While the two companies remain tight lipped about actual products that IFS will produce for Tower Semiconductor, they did imply on power management ICs using Tower's 65 nm power management BCD (bipolar-CMOS-DMOS) process. Meanwhile both firms have alluded to utilizing other production nodes at Intel’s Fab 11X, including 65 nm radio frequency silicon-on-insulator (RF SOI), which would be the first time when Intel will use SOI of any kind.

https://www.anandtech.com/show/2004...es-to-make-65nm-chips-for-tower-semiconductor