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Big Law

Intel to Offer Foundry Services to Tower Semiconductor After Proposed Merger Falls Through

Intel will offer foundry services to Tower Semiconductor in a new deal that will see the Israeli contract chipmaker invest $300 million in Intel’s New Mexico factory, the companies said on Tuesday.

The partnership comes less than a month after both companies dropped their plans to merge as the proposed $5.4-billion deal failed to secure approval from regulators in China.

Under the latest agreement, Tower will acquire and own equipment and other fixed assets to be installed at the Rio Rancho fabrication unit.

Read the source article at Yahoo Finance

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