Tower Semiconductor is an Israel-based leading foundry of high value analog semiconductor solutions. It specialises in manufacturing analog integrated circuits for more than 300 customers worldwide in growing markets such as automotive, medical, industrial, consumer, aerospace, and defence, among others. It was ranked seventh in global foundry revenue with $356 million as per TrendForce Q1-Q3 data, and its annual revenue is likely to be well over $1 billion.

According to industry experts, Tower Semiconductor is not in a financial position to set up a foundry on its own. But it can very well become a technology partner for one of the Indian conglomerates who are aiming to venture into the semiconductor space.

Another possibility is of an Indian conglomerate looking at acquiring Tower Semiconductor to expand into the chip manufacturing business. Major business houses in India - Tata Group, Hiranandani, and Vedanta are actively working in this space and interacting with global chip players. Even Reliance is believed to get into the chip race. Last year, the company was expected to acquire stake in each of the ISMC Analog fab applicant.