Intel to Sell 20% Stake in IMS Nanofabrication to Bain
June 21 2023 - 8:14AM
Dow Jones News
By Will Feuer
Intel said it has agreed to sell a 20% stake in its IMS
Nanofabrication business to private-equity firm Bain Capital in a
deal that values IMS at $4.3 billion.
Intel first invested in Austria-based IMS in 2009 and bought the
business in 2015. IMS makes multi-beam mask writers for the
semiconductor industry.
The deal is expected to close in the third quarter and IMS will
operate as a standalone subsidiary, helmed by Chief Executive Elmar
Platzgummer.
Matt Poirier, senior vice president of corporate development at
Intel, said the investment from Bain will boost the independence of
IMS and help accelerate the next phase of innovation.
Shares of Intel fell 0.6% to $34.78 in premarket trading.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
June 21, 2023 07:59 ET (11:59 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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