Yesterday, February 15, Intel announced its agreement to purchase the Israeli company Tower Semiconductor, against which the shares of Tower Semi rose in value by 42%, and Intel by 1.8%.

Tower Semiconductor is a manufacturer of circuits and semiconductors that are used in a range of industries from medical and industrial equipment to automobiles. The company’s facilities are deployed in Japan, Texas, California and Israel.

According to Intel, this transaction is part of the strategy of IDM 2.0, suggesting steps to global presence, capacity building and meeting growing demand.