IBM Set To Unload Chip Business?
IBM, which has been shedding underperforming assets as it shifts focus to the growing cloud-computing and analytics markets, is said to be close to a deal to sell its chip manufacturing business to Globalfoundries. Globalfoundries is mostly interested in IBM’s engineers and intellectual property, not its more than decade-old manufacturing facilities, Bloomberg reported June 11. Under the deal being considered, Globalfoundries would become a supplier to IBM. IBM’s main chip fabrication plants are in East Fishkill, New York and Burlington, Vermont. An IBM spokesman refused to discuss the report. “IBM does…
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