Tower Semiconductor Ltd, the Migdal Haemek, Israel-based semiconductor company which specializes in memory devices and CMOS image sensors, is betting its recovery on the flash memory chips it is due to introduce this year (CI No 3,586). The technology for the effort comes from Israel start-up Saifun Semiconductors Ltd, for which Tower signed up for an exclusive license at the end of 1997. Tower made investments in Saifun, and is said to have acquired patents relating to the technology, and will use the technology for application specific memory modules. The company also has a deal with Photobit Corp, under which the two are working on CMOS image sensor technology. Tower will manufacture Pasadena, California-based Photobit’s cameras-on-a- chip. Tower hopes the new deal will revive its fortunes. The company has seen its net income drop from $19.1m in 1997 to a loss of $15.5m in 1998.
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