Specialty foundry Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) (which trades as TowerJazz) today announced that Chinese fabless IC design company Southwest Integrated Circuit Design Co. Ltd. (SWID) has chosen Tower's SiGe BiCMOS process technologies to develop its latest high performance RF integrated circuits (ICs) for walkie-talkies.
TowerJazz, run by CEO Russell Ellwanger, currently produces supplementary RF products using various technologies. Market sources say that the contract is worth a few million dollars a year.
SWID president Lin Fan said, “Again we have chosen TowerJazz to manufacture our successful products as they offer very reliable technologies, extremely accurate models and excellent technical support which enables us to achieve first time silicon success and to reduce our design cycle time."
TowerJazz SVP and general manager, RF and High Performance Analog Business Group Dr. Marco Racanelli said, “SWID is a very important customer and an RF communication applications leader as well as a significant company within the Chinese region and we will continue to support them as their strategic foundry of choice for SiGe solutions."
Tower's share price closed at $1.20 on Friday on Nasdaq, giving a market cap of $318 million and rose 0.4% by early afternoon on the TASE today to NIS 4.05.
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