June 5, 2011
TowerJazz acquired Micron Technology’s fabrication facility in Nishiwaki City, Hyogo, Japan. The acquisition nearly doubled TowerJazz’s 2010 internal manufacturing capacity, and cost-effectively increased production by 60,000 wafers per month. The added capacity serves the growing needs of its expanding blue chip customer base combined with the additional business potential in Japan. It is expected to help position TowerJazz to achieve its expressed $1 billion annual revenue run rate target by 2014.
TowerJazz Japan, Ltd. was initially established in May 1990 as KTI Semiconductor Limited, as a joint venture between Kobe Steel and Texas Instruments. Following an alliance with Micron Technology Inc. on April 1999, its corporate name was changed to KMT Semiconductor. In April 2002, it became a wholly owned subsidiary of Micron Technology Inc. and focused on specialty DRAM business for a few years until just before TowerJazz acquired the site.
September 19, 2008
Tower Semiconductor and Jazz Semiconductor merged in a stock for stock transaction and the combined companies officially launched as TowerJazz. The merger provided several key benefits: increased global capacity, a larger customer base, a more comprehensive product portfolio, and a stronger financial base.
Jazz Semiconductor was formed in 2002 as a spinoff of Conexant Systems, a fabless semiconductor company that spun-off from Rockwell Semiconductor in 1999. Jazz inherited the Newport Beach, California 200mm fabrication facility and the company’s legacy including the establishment of industry leading SiGe, BiCMOS and MEMS technologies and the cultivation of a strong design support organization. In addition, Jazz expanded upon its heritage for on-shore, specialized foundry services focused on the Aerospace and Defense industry.
Tower Semiconductor constructed an adjacent, state-of-the-art facility (Fab 2) in Migdal Haemek Israel, designed to operate in geometries of 0.18-micron and below, using advanced CMOS technology.
The Worldwide Design Center was established in Netanya, Israel.
Tower Semiconductor shares began to be traded on Tel Aviv Stock Exchange (TSEM).
Tower Semiconductor became a public company. Shares began to be traded on NASDAQ (TSEM).
Tower Semiconductor was founded with the acquisition of National Semiconductor’s 150-mm wafer fabrication facility.