Intel announced today that it has agreed to sell approximately 20% of its stake in IMS Nanofabrication to private equity firm Bain Capital. Bain Capital values IMS at about $4.3 billion.
Intel first invested in IMS in 2019 and acquired the Vienna, Austria-based business in 2015. IMS manufactures critical chip manufacturing tools, with a particular focus on multi-beam mask writing, which is serving advanced semiconductor nodes using extreme ultraviolet lithography (EUV).
IMS will continue to operate as an independent subsidiary under the leadership of Chief Executive Officer Dr. Elmer Platzgammer.
“Advancements in lithography are crucial to driving continued progress in the semiconductor industry, and mask writing plays a central role in the industry’s transition to new patterning technologies such as high-NA EUV. said Matt Poirier, senior vice president of corporate development.at intel in a press release. “Bain Capital’s investment and partnership will bring greater independence to IMS and a strategic perspective to accelerate the next phase of lithography innovation, ultimately benefiting the entire ecosystem.”
Intel suggests that “increased independence” will help speed up further innovation in the lithography space, ultimately helping the “whole ecosystem” by fostering industry-wide cooperation.
The sale of minority shares by Intel is expected to close in the third quarter of 2023. This year, IMS will launch his MBMW-301, a 4th generation multi-beam mask writer.
Later today, Intel will provide an update on its internal foundry plans. It is unclear if this announcement has been withdrawn due to its impact on this news. Intel shares fell slightly in morning trading.
