Intel Foundry Services and Tower Semiconductor strike agreement

On the heels of their abandoned merger attempt, Intel Foundry Services (IFS) and Tower Semiconductor have signed an agreement in which Intel will provide foundry services and 300mm manufacturing services to Tower in its New Mexico facility.

Tower will invest up to US$300 million to acquire equipment and other fixed assets to be installed in the facility.

The increased scale resulting from this agreement will enable Tower not only to serve larger opportunities with existing technologies but also enhance partnerships with industry-leading customers that will help forge strong next-generation technology roadmaps, the companies said in a release.

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