Intel is reportedly looking to increase its manufacturing capability - and its cadre of wafer-purchasing clients - by acquiring Israeli semiconductor manufacturer Tower Semiconductor. If true, the deal will bring seven additional foundries to Intel's existing infrastructure. The foundries are located across three continents: Tower Semiconductor owns and operates a 150 mm and a 200 mm fab in Migdal Haemek, Israel; two 200 mm fabs in the United States (Newport Beach, California and San Antonio, Texas); two 200 mm fabs in Japan; and one additional 300 mm fab in Japan. The deal could be finalized as soon as this week.

Tower Semiconductor isn't a cutting edge manufacturer; it's competition lies more with Globalfoundries and China's SMIC than with TSMC or Intel itself. The company specializes in the manufacturing of analog circuitry, sensors, MEMS, mixed-signal, RFCMOS, silicon photonics and PMICs, among others) using specialty process technologies like BiCMOS, SiGe, and SOI. Tower Semiconductor stands as the world's sixth largest semiconductor manufacturer, with revenues in 2021 totalling 1.3 billion.