TowerJazz Buys Fab In San Antonio From Maxim

Semiconductor manufacturer TowerJazz said this morning that it has acquired the semiconductor fabrication facility based in San Antonio, which was previously owned by Maxim Integrated Products. TowerJazz said it paid $40M and 3.3 million shares of its stock for Maxim's fab facilities, which makes 8-inch wafers for the semiconductor industry. TowerJazz said that facility will help it expand its worldwide manufacturing capacity to around 28,000 wafers per month, to serve its current and forecasted customer demand. As part of the sale, TowerJazz said it will manufacture products for Maxim in that San Antonio facility under a long term, 15 year supply agreement.