SoftBank Group and Intel have signed a definitive securities purchase agreement, under which SoftBank will make a $2-billion investment in Intel common stock.
Masayoshi Son, chairman and CEO of SoftBank Group, comments: “Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation. This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the US, with Intel playing a critical role.”
Lip-Bu Tan, CEO of Intel, says: “We are very pleased to deepen our relationship with SoftBank, a company that’s at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing US technology and manufacturing leadership.
“Masa and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment.”
Under the terms of the agreement, SoftBank will pay $23 per share of Intel common stock. The transaction is subject to customary closing conditions.