Hogan Lovells guides Intel in sale of stake in IMS Nanofabrication business to Bain

Press releases | 22 June 2023

Silicon Valley, 22 June 2023 – A team from global law firm Hogan Lovells has advised long-term client Intel Corporation in its agreement to sell an approximately 20% stake in its IMS Nanofabrication GmbH (IMS) business to private equity investor Bain Capital Special Situations. The transaction values IMS at approximately US$4.3 billion.

Vienna, Austria-based IMS is an industry leader in multi-beam mask writing for advanced technology nodes. Intel initially invested in IMS in 2009 and ultimately acquired the business in 2015. Since the acquisition, IMS has delivered a significant return on investment to Intel while growing its workforce and production capacity by four times and delivering three additional product generations.

The transaction is expected to close in the third quarter of 2023. IMS will operate as a standalone subsidiary and will continue to be led by CEO Dr. Elmar Platzgummer.

The Hogan Lovells team was led by Silicon Valley Office Managing Partner Jane Ross, with support from partners John Brockland (San Francisco) and Jessica Millett (New York), counsel Zohar Nevo (Boston) and Caitlin Piper (Washington, D.C.), senior associate Max Scott (San Francisco), and associate Orla O’Keeffe (Silicon Valley).

Support was also provided by partners Logan Breed, Brian Curran, Jasper Howard, and Scott Loughlin (all Washington D.C.), and Michael Frank (Silicon Valley), senior associates Connor Griffith (San Francisco), Daniel Mader, Patrick Miller, and Morgan Perna (all Washington, D.C.), and associates John Hamilton (Washington, D.C.), Angela He (San Francisco), and Shirley Urena (New York).

In addition, the team included partner Falk Schoening and senior associate Philipp Heuser (both Brussels), partner Volker Geyrhalter and counsel Cornelius Naumann (both Munich), and partner Danielle du Bois-Buné and senior associate Bastiaan van Rath (both Amsterdam).

Hogan Lovells’ Northern California-based M&A team is a recognized leader in tech transactions. The firm has represented Intel in prior transactions that include the $900m acquisition of mobility-as-a-service (MaaS) solutions company Moovit.