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Intel to offer foundry services to Tower Semiconductor after acquisition deal falls through

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Under the latest agreement, Tower will acquire and own equipment and other fixed assets to be installed at the Rio Rancho fabrication unit. 'We see this as a first step towards multiple unique synergistic solutions with Intel,' Tower CEO Russell Ellwanger said. 'This collaboration with Intel allows us to fulfill our customers' demand roadmaps, with a particular focus on advanced power management and radio frequency silicon on insulator (RF SOI) solutions, with full process flow qualification planned in 2024.'

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