Intel To Sell 20% Stake In IMS To Bain Capital

(RTTNews) - Intel Corporation (INTC) said on Wednesday that it has agreed to sell around 20 percent stake in its IMS Nanofabrication GmbH or IMS business, to Bain Capital Special Situations, that values IMS around $4.3 billion.

Matt Poirier, Senior Vice President of Corporate Development at Intel, said: "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."

Following the completion of the transaction, which is expected in the third-quarter, IMS will operate as a standalone unit and will continue to be led by Chief Executive Officer Elmar Platzgummer.

Based in Vienna of Austria, IMS is an expert in multi-beam mask writing for advanced technology nodes. Intel initially invested in IMS in 2009 and later acquired the same in 2015.