Intel to sell 20% stake in Austrian chip company (updated)

Bain Capital Specialty Finance

21/06/2023 13:29

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       June 21 (Reuters) - Intel  INTC.O  said on Wednesday it
would sell one-fifth of its stake in IMS Nanofabrication to
private equity firm Bain Capital in a deal valuing the Austrian
producer of chipmaking tools at about $4.3 billion.
    Intel's stake sale of 20% was valued at $860 million,
according to Reuters calculations.
    IMS, which was acquired by Intel in 2015, makes equipment
that are critical for companies that make chips. 
    It has delivered a significant return on investment to Intel
while growing its workforce and production capacity by four
times, Intel said.
    Bain Capital's investment in IMS will put it in a position
to capture significant market share for its tools that are being
widely adopted by chipmakers, Intel said.
    

 (Reporting by Akash Sriram and Chavi Mehta in Bengaluru;
Editing by Sriraj Kalluvila and Shinjini Ganguli)
 ((Akash.Sriram@thomsonreuters.com; @HoodieOnVeshti on Twitter;
+91-74116-87774;))