ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Intel to buy Israel's Tower Semiconductor for $5.4bn

Deal gives U.S. giant a stronger foothold in specialty chips

Tower specializes in analog chips used in cars, medical sensors, power management and other applications.   © Reuters

JERUSALEM (Reuters) -- Intel is buying Israeli chipmaker Tower Semiconductor for $5.4 billion, the companies said on Tuesday, giving it access to more specialized production and making it better positioned to take advantage of soaring demand for semiconductors.

Intel is paying $53 per share for Tower -- which specializes in analog chips used in cars, medical sensors and power management -- well above a closing price of $33.13 on the Nasdaq on Monday.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more