IBM's unloading its loss-making semic...

IBM's unloading its loss-making semiconductor division to GlobalFoundries

Posted in the Utica Forum


Syracuse, NY

#1 Jul 27, 2014
IBM's hopes of unloading its loss-making semiconductor division to GlobalFoundries have reportedly been dashed, with GlobalFoundries refusing to budge on price.
Word that Big Blue was planning to sell off its chips business first surfaced in February, when the company retained investment bankers Goldman Sachs to help it put a value on the division.
GlobalFoundries – which was formerly AMD's chip-fabbing wing before it was sold to an investment arm of the government of Abu Dhabi in 2008 – has long been considered a frontrunner for the sale, owing to its close ties to IBM. The company has been baking chips for Big Blue at its Fab 8 facility in upstate New York since January 2012.
Recent developments have added fuel to speculation that IBM and GlobalFoundries were close to a deal, too. Earlier this month, the chip-baker brought Henry DiMarco on board as VP of site construction and facilities. DiMarco, a longtime IBM employee, was previously in charge of designing, building, and running IBM's 300mm fab in East Fishkill, NY.
Whatever common ground the two companies may have, however, it now seems GlobalFoundries won't be snapping up IBM's chip business after all. Bloomberg reports that talks of a sale have broken down, citing the omnipresent "people with knowledge of the matter."

Lowville, NY

#2 Jul 27, 2014
I know now what IBM wont keep losing money on its fabs.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Utica Discussions

Title Updated Last By Comments
Raises for county politicians 4 min Come On Now Stop 5
Lonely in Herkimer 10 min Big hand sue 5
Local Politics Do you approve of Anthony J. Picente as County ... (Feb '12) 12 min We Need Preet 49
Frank Duross, all his teams, have failed. (Jun '13) 18 min Cannot Make This Up 6
St. E's vs Nurses 19 min Rose 2
Palmeri another Roefaro maybe worse (Apr '11) 21 min Uncle Mario 83
Pat Collea 24 min lanedude 1
Name A Hillary Clinton Accomplishment 29 min Florida Frank 52
Easy bartenders 53 min Pimp 16
Affair outside bennu in whitesboro 59 min Wait 35
Mayors $20,000 raise 1 hr Chief Brooks 25
Sam wessing 5 hr No Way 37

Utica Jobs

More from around the web

Personal Finance

Utica Mortgages