Intel announces that it has reached an agreement to sell 10% of IMS Nanofabrication (IMS) to TSMC for $430 million, valuing IMS at $4.3 billion. This valuation is equivalent to the price at which Intel previously sold 20% of IMS to Bain Capital.
Intel states that following this stock sale, the company remains the largest shareholder in IMS, a company that operates separately from Intel and is led by Dr. Elmar Platzgummer as CEO.
IMS is a company specializing in the Multi-Beam Mask Writer technology, which is used in the development of EUV, a fundamental technology for advanced chip manufacturing. Intel acquired IMS in 2015.
TLDR: Intel has agreed to sell a 10% stake in IMS Nanofabrication to TSMC for $430 million, valuing the company at $4.3 billion. IMS remains under Intel’s majority ownership and specializes in advanced chip manufacturing technology.