Investment firm Softbank said on Tuesday via press release that it will buy a $2 billion stake in tech component firm Intel through an investment agreement.
Softbank investment agreement comes after Trump talks for stake in Intel
The update comes after the U.S. Trump administration was considering buying a 10% stake in the company and was in talks with Intel.
“This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role,” said Softbank CEO Masayoshi Son.
“Masa and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment,” said Intel CEO Lip-Bu Tan.
Both companies have decades of skin in their respective industries, with Intel’s core business focused on manufacturing, processing, and selling computer components, and Softbank’s core business focused on investment management.
The investment management firm will pay $23 per share for Intel’s stock.
Source: Google Finance
Source: Google Finance