Globalfoundries Passes On IBM Chip Business, Says Report

Peter Clarke, Electronics360
July 28, 2014

IBM's efforts to sell off its chip unit appear to have broken down, with reports that Globalfoundries Inc. (Santa Clara, Calif.) is not interested in paying anywhere near IBM's asking price for its loss-making semiconductor division.

Globalfoundries has not been prepared to meet IBM's asking price, according to a Bloomberg that referenced " people familiar with the process." It is also seems clear that the two companies' interests are somewhat tangential; IBM is looking to off-load its own chip manufacturing in New York state while Globalfoundries, which is owned by an investment vehicle of the Abu Dhabi government, has its own wafer fab in upstate New York and is more interested in the IBM semiconductor patent portfolio and research knowledge that IBM has built up.

Click here to read more ...