Intel to sell ~10% stake in IMS nanofabrication unit to Taiwan Semiconductor
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Intel (NASDAQ:INTC) is selling about 10% stake in its IMS Nanofabrication business to Taiwan Semiconductor Manufacturing Company (NYSE:TSM).
TSMC's investment values IMS at about $4.3B, consistent with the valuation of a stake sale to Bain Capital Special Situations. In June, Intel announced that it would sell an approximately 20% stake in IMS to Bain Capital.
Intel noted that it will retain majority ownership of IMS, which will continue to operate as a standalone unit under the leadership of CEO Elmar Platzgummer.
The transaction is expected to close in Q4 2023.
IMS is a leader in multi-beam mask writing tools required to develop advanced extreme ultraviolet lithography, or EUV, which is broadly used in leading-edge technology nodes that enable demanding computing applications, such as artificial intelligence, or AI and mobile, according to Intel.
"This investment demonstrates the deep industry collaboration IMS is pioneering to advance critical lithography technology for leading-edge nodes, which will benefit the entire semiconductor manufacturing ecosystem," said Matt Poirier, senior vice president of Corporate Development at Intel.

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