Page 46 - etone-12 items-adv_Neat 040422
P. 46
E-Tone™: Ulpan-Or Weekly News Digest
Item #9 (Advanced Level)
Israeli Exit
The workers at the "Tower Semiconductor" chip factory in Migdal
Ha’Emek are excited. Intel Global announced this morning that it is
acquiring the Israeli company in a huge deal worth five billion, four
hundred million dollars. "Tower" is a veteran company in the chip
industry that has been operating in Migdal Ha’Emek for decades. It also
has several production facilities in the United States and Japan, and this
acquisition happens because (lit. against the background) of the global
shortage and need for chips. Tower's achievement is not only in the high
purchase price, but also in the big change the company has undergone in
the last two decades - from debts to banks amounting to half a billion
dollars, into recovery and a huge exit. The sale of "Tower" is one of the
five largest exits in the history of Israeli companies. "Mobileye", which
was acquired by the same Intel in two thousand and seventeen in exchange
for more than fifteen billion dollars, tops the list. For the directors of
"Tower" and the funds that have invested in it, this is a celebratory day
(lit. holiday) that will pad their pockets (bring them a lot of money). For
the time being, Intel's intention is to continue using the company's
facilities in Migdal Ha’Emek and the service of one thousand five hundred
employees in Israel.
Page 46 - Edition mm-dd-yy
Copyrighted and owned by Ulpan-Or. Any usage, copying and distribution without express permission from Ulpan-Or is prohibited.
