Struggling IBM pays $1.5 billion to dump its chipmaking business
IBM announced today that GlobalFoundries will acquire its chip manufacturing business in a deal expected to close in 2015. IBM will pay GlobalFoundries $1.5 billion over the next three years to complete the transfer but will presumably save more than that over the long haul by offloading a costly chipmaking operation.

October 20, 2014 at 02:03PM
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