Intel Corp. announced Tuesday plans to acquire Israeli specialist chipmaker Tower Semiconductor. Intel plans to pay $53 per share for the company in an all-cash sale, or about $5.4 billion. Tower makes specialty analog circuits used in mobile, automotive and power applications.
“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,” Intel said.
