Intel nears US$6bil deal to buy Tower Semiconductor

The potential purchase would deepen Intel’s presence in a space dominated by Taiwan-based TSMC, the world’s largest contract chipmaker.

NEW YORK: Intel Corp is close to buying Israeli firm Tower Semiconductor for about US$6bil (RM25.1bil), a source familiar with the matter said, as the US company looks to advance its strategy of contract manufacturing chips for other businesses.

A deal could be unveiled as soon as this week, the person said, declining to be named as the matter was private.