Intel Corporation has agreed to buy Israeli chipmaker Tower Semiconductor for USD 5.4 billion

Categories: Corporate and M&A, Hi-Tech

Intel Corporation has agreed to buy Israeli chipmaker Tower Semiconductor for USD 5.4 billion.

One of the world’s largest chip manufacturers, Intel lost ground in recent years to rivals Taiwan Semiconductor Manufacturing Co. and Samsung. With the acquisition, the company will gain access to increased production capacity at a time when demand for semiconductors is soaring and supply remains limited.

Yigal Arnon advised Intel, together with Skadden, Arps, Slate, Meagher & Flom LLP, in its latest mega-acquisition, after a string of acquisitions, including the landmark purchase of Mobileye (the largest acquisition in Israel in history), Habana Labs, Moovit, and many others.

The Yigal Arnon team was led by Barak Platt and Ezra Gross with the assistance of Josh Hauser, Idan Adar, Ben Sandler, Daniel Green, Dr. Eran Lempert, Eli Greenbaum, Shani Rapoport, Miriam Friedmann, Aharon (Roni) Osborne, Shai Margalit, Adam Spruch, Nir Kamhi, Chaim Cohen, Moshe Pasker, Leah Grumet , Basel Sader, Itay Ashkenazi, and interns Avivan Loboda and Roni Zemelman.

Tower Semiconductor is a pillar of the Israeli tech landscape, and its addition to the Intel family will combine Intel’s leading-edge nodes and scale manufacturing with Tower’s specialty technologies and customer-first approach to deliver leading technology capabilities and increased value to customers into the future.

Latham & Watkins LLP represents Tower Semiconductor in the transaction with a corporate deal team led by Bay Area partners Tad Freese and Mark Bekheit, with associates Brad Alvarez, Donna Kim, Jennifer Boyd, Amanda Dillon, Billy Wu, and Junhan Zhang.
Latham also provided advice on the tax, executive compensation, labor and employment, intellectual property, and data privacy aspects, while Tel Aviv/London partner Joshua Kiernan acted on Israel corporate law matters.

There was widespread coverage in Calcalist, Globes and Jerusalem Post, among others.

Latham & Watkins

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