Technology

Intel says it will buy Tower Semiconductor for $5.4 billion

Intel says it will buy Tower Semiconductor 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.

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