Intel acquires Israeli tech firm
The Silicon Valley tech giant has a large presence in Israel, and has acquired several Israeli companies in recent years.
Intel announced today an agreement to acquire the Israeli circuit manufacturer Tower Semiconductor.
Intel will buy Tower Semiconductor’s stock at a price of $53 per share, making the total cost of the acquisition around $5.4 billion. The purchase will provide Intel with growth opportunities in Israel, the United States and other areas and help it meet an “unprecedented industry demand” for chips, the company said in a press release.
