Intel to offload part ownership of IMS Nanofabrication to TSMC in strategic move.

Intel Corporation has announced the sale of a 10% stake in its IMS Nanofabrication business to TSMC, further strengthening IMS' position as a leader in multi-beam mask writing tools and enabling the development of lithography technology for the semiconductor industry.

Intel will retain majority ownership of IMS
Investments from Bain Capital and TSMC will provide IMS with increased independence
IMS is well-positioned to address the significant growth opportunity for multi-beam mask writing tools in the coming years

In a move that highlights the growing importance of advanced lithography technology, Intel Corporation has announced the sale of a 10% stake in its IMS Nanofabrication business to TSMC. This follows a recent stake sale to Bain Capital Special Situations, with both investments valuing IMS at around $4.3 billion. Despite the sale, Intel will retain majority ownership of IMS, which will continue to operate as a standalone subsidiary under the leadership of CEO Dr. Elmar Platzgummer. The transaction is expected to be finalized in the fourth quarter of 2023.

IMS is a well-established leader in multi-beam mask writing tools, a crucial component in the development of extreme ultraviolet lithography (EUV). This technology is widely adopted in computing applications like artificial intelligence (AI) and mobile devices. The investments from Bain Capital and TSMC will provide IMS with increased independence and bolster confidence in its future prospects. This newfound autonomy will enable IMS to accelerate its growth and spearhead the next phase of lithography technology innovation, including the transition to high-numerical-aperture EUV.

Matt Poirier, senior vice president of Corporate Development at Intel, emphasized the collaborative nature of this investment, stating that it demonstrates IMS’ commitment to advancing critical lithography technology for leading-edge nodes. He believes that IMS is well-positioned to address the significant growth opportunity for multi-beam mask writing tools in the coming years.

Dr. Elmar Platzgummer expressed his delight at bringing in new investors to support IMS’ leadership in multi-beam mask writing, which he considers to be the foundation of innovation in semiconductor technologies. He sees this as a testament to IMS’ expertise and leadership position in the field and looks forward to continuing to support the development of next-generation technologies alongside their partners.

Dr. Kevin Zhang, senior vice president of Business Development at TSMC, highlighted the long-standing partnership between TSMC and IMS, dating back to 2012. He believes that this investment will further accelerate innovation and foster deeper collaboration across industries.

IMS plays a crucial role in enabling the growth and advancement of the semiconductor industry, particularly in the face of increasingly demanding applications. The global semiconductor market is expected to reach $1 trillion by 2030, driven by the five superpowers of AI, pervasive connectivity, ubiquitous computing, cloud-to-edge infrastructure, and sensing. Advancements in lithography technology, such as EUV, are essential for the leading-edge nodes that power these applications. IMS’ leadership in mask writing tools positions them at the forefront of innovation in this critical area.

Intel’s initial investment in IMS dates back to 2009, and they acquired the remaining stakes in 2015. Since then, IMS has delivered significant returns on investment to Intel while expanding its workforce and production capacity fourfold and introducing three new product generations. The recent stake sales to Bain Capital and TSMC further solidify IMS’ position as a key player in the industry.

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Background Information

About Intel:

Intel Corporation, a global technology leader, is for its semiconductor innovations that power computing and communication devices worldwide. As a pioneer in microprocessor technology, Intel has left an indelible mark on the evolution of computing with its processors that drive everything from PCs to data centers and beyond. With a history of advancements, Intel's relentless pursuit of innovation continues to shape the digital landscape, offering solutions that empower businesses and individuals to achieve new levels of productivity and connectivity.

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About TSMC:

TSMC, or Taiwan Semiconductor Manufacturing Company, is a semiconductor foundry based in Taiwan. Established in 1987, TSMC is a important player in the global semiconductor industry, specializing in the manufacturing of semiconductor wafers for a wide range of clients, including technology companies and chip designers. The company is known for its semiconductor fabrication processes and plays a critical role in advancing semiconductor technology worldwide.

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Technology Explained

EUV: Extreme Ultraviolet Lithography (EUV or EUVL) is an advanced semiconductor manufacturing technique that employs extremely short wavelengths of light in the extreme ultraviolet spectrum to create intricate patterns on silicon wafers. Utilizing a wavelength around 13.5 nanometers, significantly shorter than traditional lithography methods, EUVL enables the production of smaller and more densely packed integrated circuits, enhancing the performance and efficiency of modern microprocessors and memory chips.