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Top related persons:
Russell Ellwanger - 2 Dado Ruvic - 1 Yuvraj Malik - 1 Shweta Agarwal - 1 Pat Gelsinger - 1 ” Gelsinger - 1 Joe Biden - 1 won’t - 1
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China Intel's New Mexico New Mexico Ohio Bengaluru Hong Kong United States Europe
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Intel - 2 Tower Semiconductor - 2 Semiconductor - 1 REUTERS - 1 Taiwan Semiconductor Manufacturing - 1 Thomson - 1 Hong Kong CNN - 1 Financial Times - 1

Search resuls for: "Russell Ellwanger"


2 mentions found


☆ Intel to offer foundry services to Tower Semiconductor after acquisition deal falls through
  + stars: | 2023-09-05 | by ( ) www.reuters.com   time to read: +2 min
FILE PHOTO: Tower Semiconductor is seen on smartphone in front of displayed Intel logo in this illustration taken, February 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsSept 5 (Reuters) - Intel (INTC.O) will offer foundry services to Tower Semiconductor (TSEM.TA) 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. "We see this as a first step towards multiple unique synergistic solutions with Intel," Tower CEO Russell Ellwanger said. The deal also strengthens Intel's foundry capacity as it advances on rivals such as industry leader Taiwan Semiconductor Manufacturing Co. In the second quarter, Intel's foundry business reported revenue of $232 million, up from $57 million a year earlier.
Persons: Dado Ruvic, Russell Ellwanger, Yuvraj Malik, Shweta Agarwal Organizations: Semiconductor, REUTERS, Intel, Tower Semiconductor, Taiwan Semiconductor Manufacturing, Thomson Locations: Intel's New Mexico, China, New Mexico, Ohio, Bengaluru
☆ Intel calls off $5.4 billion Tower Semiconductor deal after failing to get regulatory approval
  + stars: | 2023-08-17 | by ( Michelle Toh | ) edition.cnn.com   time to read: +3 min
Hong Kong CNN —Intel has pulled out of a major acquisition of an Israeli chipmaker after failing to obtain the required regulatory approval. The US tech giant said in a Wednesday statement it would scrap its planned $5.4 billion purchase of Tower Semiconductor (TSEM), saying it had not received the necessary sign-off from regulators in time. While Intel (INTC) did not specifically mention which jurisdiction it was waiting on, it had previously outlined efforts to clear the deal with authorities in China. Both Intel and Tower said in their respective statements that the deal had been canceled based on mutual agreement. To walk away, Intel will now pay Tower a termination fee of $353 million, the California-based company said in the statement.
Persons: Pat Gelsinger, ” Gelsinger, Joe Biden, won’t, Gelsinger, Russell Ellwanger, ” Organizations: Hong Kong CNN, Intel, Tower Semiconductor, Financial Times, Administration of, CNN, Companies, Tower’s Nasdaq Locations: Hong Kong, China, United States, Europe, Asia, California, New York
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