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Tower Semiconductor was founded in 1993, with the acquisition of National Semiconductor’s 150mm wafer fabrication facility. Tower became a public company in 1994 and shares are traded on NASDAQ and Tel Aviv Stock Exchange . In January 2001, an adjacent facility was constructed.
In September 2008, Tower acquired Jazz Semiconductor in a stock for stock transaction. In November 2009, the combined companies officially launched as TowerJazz.In June 2011, TowerJazz acquired Micron Technology's fabrication facility in Nishiwaki City, Hyogo, Japan. The acquisition nearly doubled TowerJazz's 2010 internal manufacturing capacity and cost-effectively increased production by 60,000 wafers per month.
In April 2014, TowerJazz announced the successful transaction with Panasonic Corporation to form a newly established Japanese company, TowerJazz Panasonic Semiconductor Co. for the manufacture of Panasonic and additional third-party products. TowerJazz announced cessation of its Nishiwaki facility operations in the course of rationalizing and restructuring its manufacturing and business activities in Japan. This enables the company to reduce its annual fixed costs by approximately $130 million per annum.In February 2016, TowerJazz announced the successful acquisition of an 8-inch wafer fabrication facility in San Antonio, Texas, United States from Maxim Integrated Products, Inc., the consideration, of $40 million was paid by approximately 3.3 million ordinary TowerJazz shares. This acquisition increased TowerJazz's production by 28,000 wafers per month.
On 21 August 2017, TowerJazz, and Tacoma Semiconductor Technology Co., Ltd announced that TowerJazz received a first payment from Tacoma according to their agreement for establishing a partnership to build a wafer fab in China. TowerJazz would provide its technical knowledge and project management skills, meanwhile Tacoma , and a Chinese regional authorities named Nanjing Economic and Technology Development Zone, would fully support and fund the project. On 22 June 2020, the Chinese court announced that Tacoma Semiconductor Technology Co., Ltd was in bankruptcy proceedings.On March 1, 2020, TowerJazz announced a new brand identity. As of March 2020, the company's official brand name is Tower Semiconductor and includes all of the company's worldwide subsidiaries.On February 15, 2022, Intel announced an agreement to acquire Tower Semiconductor for $5.4 billion.
