Intel Divests 20% Stake In IMS Nanofabrication Unit To Bain Capital For $4.3B

Intel Corporation INTC plans to sell an approximately 20% stake in its IMS Nanofabrication business to Bain Capital Special Situations for $4.3 billion.

Intel initially invested in IMS in 2009 and ultimately acquired the business in 2015. Intel noted, since the acquisition, IMS has delivered a significant return on investment to Intel while growing its workforce and production capacity by four times and delivering three additional product generations. 

IMS will operate as a standalone subsidiary and will continue to be led by CEO Elmar Platzgummer.

"We are pleased to gain a valuable partner in Bain Capital, which has a long history of partnering with companies to drive growth and value creation," said Platzgummer.

Also Read: Bain Capital To Raise $4B For Special Situations Fund: Report

The transaction is expected to close in the third quarter of 2023. 

"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," said Matt Poirier, senior vice president of Corporate Development at Intel.

This investment will position IMS to capture the significant market opportunity for multi-beam mask writing tools by accelerating innovation and enabling deeper cross-industry collaboration.

Price Action: INTC shares are trading lower by 2.40% to $34.16 on the last check Wednesday.