After failed acquisition, Intel signs foundry deal with Tower Semiconductors – Times of India

Intel announced a deal to provide foundry services and manufacturing capabilities tower The semiconductor company scrapped plans to buy the company for $5.4 billion two weeks later amid regulatory backlash.
Under the new deal, Tower will invest up to $300 million to acquire and own equipment and other assets that will be installed at Intel's manufacturing facility in New Mexico, USA. Intel Foundry Services.
Intel has agreed to manufacture Tower's 65-nanometer power management BCD (bipolar-CMOS-DMOS) chips as part of the deal. Tower has its own manufacturing facilities located in Israel (150mm and 200mm), USA (200mm), Japan (200mm and 300mm) and soon in Italy in partnership with STMicroelectronics.
According to Intel, the deal will increase the Tower's capacity by more than 600,000 photo layers per month, support advanced analog processing at 300mm, and meet anticipated customer demand.
“We launched Intel Foundry Services with the long-term vision of providing the world's first open-source foundry, integrating a secure, sustainable and resilient supply chain with the best of Intel and our ecosystem.” We are thrilled that Tower sees the unique value we provide and has selected us to launch their 300mm US power corridor. Stuart Pansaid Intel's senior vice president and general manager of Intel Foundry Services.
Russell EllwangerExecutive Director tower semiconductors said: “We are delighted to continue working with Intel. As we look to the future, our primary focus is to expand our partnership with our customers through high-scale manufacturing of advanced technology solutions. This collaboration with Intel enables us to meet our customers' demand roadmaps, with a particular focus on advanced power management and RF SOI solutions, with full process flow qualification scheduled for 2024. We see this as a first step. Towards many unique synergistic solutions with Intel.
Last month, Intel had to scrap a plan to buy Israel-based Tower Semiconductor for $5.4 billion due to delays in getting necessary regulatory approvals, particularly in China. As part of the terms of the agreement, Tower will receive a $353 million termination fee from Intel.