Marketing accelerates innovation of critical multi-beam mask writing tools, fosters deep cross-industry collaboration.
Marketing accelerates innovation of critical multi-beam mask writing tools and encourages deep cross-industry collaboration.
Multi-beam mask writing tools are critical to the development of UV technology for the semiconductor ecosystem.
An estimated 20% stake values IMS at around $4.3 billion.
SANTA CLARA, Calif. & BOSTON–( BUSINESS WIRE )–Intel Corporation today announced that it has agreed to sell an approximately 20% stake in the business of IMS Nanofabrication GmbH (“IMS”) to Bain Capital Special Situations (“Bain Capital”), valuing IMS at approximately 4.3 The transaction is expected to close in the third quarter of 2023. IMS will operate as an independent subsidiary and will continue to be led by CEO Dr. Elmar Plattsgummer.
After inventing multi-beam technology and introducing the first commercial multi-beam mask writer in 2015, Vienna, Austria-based IMS is the industry leader in multi-beam mask writing for advanced technology nodes. Intel invested in IMS in early 2009 and eventually acquired the business in 2015. Since the acquisition, IMS has quadrupled its workforce and production capacity and delivered three additional product generations, delivering a significant return on investment.
Today, as EUV technology becomes more widely adopted in mainstream technologies, the multi-beam mask writers required to create advanced EUV (Extreme Ultraviolet Lithography) masks are increasingly critical components of the semiconductor manufacturing ecosystem. This investment positions IMS to capture a significant market opportunity for multi-beam mask writing equipment by accelerating innovation and enabling cross-industry collaboration.
“The advancement of lithography is critical to driving continued growth in the semiconductor industry, and mask writing will play a central role in the industry’s transition to new patterning technologies, such as high-NA EUV,” said Matt Poirier, senior vice president of corporate development. In Intel. “Bain Capital’s investment and partnership gives IMS greater independence and brings strategic vision to accelerate the next generation of lithography technology innovation, ultimately benefiting the ecosystem as a whole.”
Platzgummer said, “We are pleased to have a valuable partner in Bain Capital, which has a long history of working with companies to create growth and value. They share our belief in the significant opportunity ahead for IMS as EUV becomes more widespread and high-NA EUV moves from development to mass production in the second half of the decade. Relying on our technology, we look forward to expanding our ability to support the world’s largest chip manufacturers in the production of current and next-generation semiconductor products.
“As a leader and innovator of new technologies in the semiconductor manufacturing and nanotech industries, we believe IMS is well-positioned with the advent of additional chip manufacturing capacity,” said Marvin Larbi-Yeboa, partner at Bain Capital. Build on its online and leadership competitive position, technological diversity and modern manufacturing capabilities.
Bain Capital Managing Director Will Taylor added, “We look forward to partnering with IMS’ exceptional management team and Intel to leverage our deep industry experience and value creation capabilities to support the business’s long-term growth strategy with continued investment.” In its core technology and product portfolio, IMS can extend its competitive market position.
Intel (Nasdaq: INTC) is an industry leader in creating technology that enables global growth and enriches lives. Inspired by Moore’s Law, we continuously innovate semiconductor design and manufacturing to solve our customers’ greatest challenges. By incorporating data into the cloud, network, edge and any computing device, we unlock the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com.
About IMS Nanofabrication
IMS Nanofabrication GmbH, an Austrian business and subsidiary of Intel Corporation, is a global technology leader in multi-beam mask writers. Its customers are the largest chip manufacturers in the world, relying on the technology to produce current and future chip generations. IMS’ innovative multi-beam writers play a key role in chip manufacturing and provide significant value to the semiconductor industry. They are continuously customized and refined by an interdisciplinary team in line with the latest market needs. Over the past 10 years, IMS has perfected its electron-based multi-beam technology. The first-generation multi-beam mask writer, MBMW-101, is successfully working all over the world. The second generation multi-beam mask writer, MBMW-201, entered the mask writer market in the first quarter of 2019 for the 5nm technology node. And this year, IMS is launching the MBMW-301, a fourth-generation multi-beam mask writer that offers unprecedented performance. Learn more at www.ims.co.at/en/.
Special conditions about Bain Capital
Bain Capital Special Situations is a global group of investors who have created value for over 20 years. Bain Capital Specials has $18 billion in assets under management and over $28 billion in investments. Throughout market cycles, the strategy brings credit, equity, corporate and real estate expertise to the partnership where traditional providers cannot. Our dedicated, global team of more than 100 investment and portfolio professionals contribute the local expertise and capabilities that enable these diversified investments. For more information, please visit: https://baincapitalspecialsituations.com/.
This press release contains forward-looking statements, including the timing of the closing of the proposed investment by Bain Capital Special Situations (“Bain Capital”) in IMS Nanofabrication GmbH (“IMS”) and the potential impact on IMS’s business. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ from those expressed or implied, including: the risk that the transaction may not be completed on time or at all, including the failure to receive regulatory approvals; the occurrence of any event, change or other condition that may cause the termination of the transaction; the anticipated benefits of the transaction, including increased independence of IMS, may not be realized or the sale of minority ownership in IMS may adversely affect the business of IMS or Intel; disputes or potential litigation related to the ownership, control and operation of the business or the business of IMS, including with respect to Intel; Unforeseen costs related to the transaction or IMS business may occur; retention risks of key IMS employees and customers; adverse reactions or changes in business relationships that may occur as a result of the announcement or completion of the transaction; changes in demand for semiconductor manufacturing equipment; intense competition and rapid technological change in the semiconductor industry; April 27, 2023, 2022 Annual Report on Form 10-K and other risks and uncertainties disclosed in Intel’s earnings release related to the SEC. All information in this press release reflects the views of Intel management as of the date hereof unless an earlier date is indicated. Intel undertakes no obligation and expressly disclaims any obligation to update these statements with new information, new developments or otherwise, unless such disclosure is required by law.
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Source: Intel Corporation
Released June 21, 2023 • 7:30 am EDT.