Intel To Sell 20% Stake In Austrian Chip Company

Image Courtesy: Reuters

New Delhi: Intel 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 is critical for companies that make chips. (Also 

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.