IBM Pays To Divest Chip Business

IBM announced today that they will pay GlobalFoundries 1.5 Billion dollars over three years in exchange for GlobalFoundries taking over their microchip business. GlobalFoundries was itself created in 2009 when AMD divested from manufacturing.  As part of the deal GlobalFoundries is getting paid to acquire IBM's semiconductor manufacturing facilities and personnel with the exception of a small team of researchers remaining with IBM. The number of things IBM still does continues to shrink.

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