Specialty foundry Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) (which markets as TowerJazz) will supply its processors to UK's Nujira Ltd. for its envelope tracking integrated circuit for mobile handsets.
Tower added that the new chip also marks Nujira’s shift to a fabless business model to address the high volume, global smartphone and mobile device market.
Tower VP Dr Marco Racanelli said, “Nujira’s technology has huge potential for the mobile handset market, so we are excited to be their partners and to be supporting them in the development of their Envelope Tracking ICs. With foundry capacity on three continents, TowerJazz offers a unique combination of specialty processes and wafer capacity, enabling high growth fabless IC companies like Nujira to rely on us as their silicon supplier."
Nujira CEO Tim Haynes said, “Our new IC for mobile handsets is hugely significant for the business and strategically, so it was absolutely critical that we selected the right foundry partner. TowerJazz’s processes offered us the ideal combination of power management and high performance analog technology to meet the challenging requirements of ET ICs."
Tower's share price rose 3% on Nasdaq yesterday to $0.81, giving a market cap of $256 million. There is no trading on the Tel Aviv Stock Exchange (TASE), due to a strike.
Published by Globes [online], Israel business news - www.globes-online.com - on February 9, 2012
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