Intel buying Tower Semiconductor, with factory in Newport Beach, for $5.4 billion
Intel buying Tower Semiconductor, with factory in Newport Beach, for $5.4 billion
Intel said it is buying Israeli company Tower Semiconductor for $5.4 billion in a deal that could give the California chipmaking giant an edge in the business of making custom-designed chips.
Intel CEO Pat Gelsinger said Tuesday that acquiring Tower will help expand Intel’s newly formed “foundry” business that makes microprocessors for other firms.
Intel will “benefit from decades of experience…