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Intel Corp on Wednesday said that it has agreed to sell its stake in IMS Nanofabrication GmbH to Bain Capital LP.
The Santa Clara, California-based chip manufacturer will sell its 20% stake in a transaction that values IMS, a producer of multi-beam mask writers for the global semiconductor industry, at $4.3 billion.
The transaction is expected to close in the third quarter of this year. IMS will operate as a standalone subsidiary, with Elmar Platzgummer continuing in the role of chief executive officer.
Intel initially invested in IMS in 2009 and ultimately acquired the business in 2015. Bain Capital Special Situations, which has acquired the minority stake, is a Boston-based private investment firm.
‘The advancement of lithography is critical 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.
‘Bain Capital’s investment and partnership will provide IMS with increased independence and bring strategic perspective to help accelerate the next phase of lithography technology innovation, ultimately benefitting the ecosystem as a whole.’
Intel shares were down 1.3% at $34.56 in New York on Wednesday.
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