Intel to buy Israeli chip maker Tower Semicondutor for $6 billion

Intel about to buy Israeli chip maker for $6 billion

Intel seems to be upgrading its manufacturing capabilities, and are according to Wall Street Journal getting close to take over Tower Semiconductors who primarily have medical and automotive industry as a customer base, Tower Semiconductor has seven chip plants around the world, and according to industry sources, are able to produce large quantities of chips, although they are not cutting edge.

Intel has recently had to back out of a $30 billion dollar purchase of GlobalFoundries meant to strengthen their production capacity as GF went for a public offering.