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IBM sells chip business to GlobalFoundries for $1.5 billion (updated)

For decades, IBM was synonymous with innovation, cutting-edge technology, and heady research and developments that pushed the boundaries of what computers were capable of doing. As of now, that storied legacy is coming to an end — or at the very least, changing hands. After months of will-they-won’t-they speculation, IBM and GlobalFoundries have inked a deal in which GF will take over IBM’s chip manufacturing facilities. IBM is paying GlobalFoundries around $1.5 billion in cash to take the loss-making unit off its hands.

Updated: IBM has confirmed the deal, noting that it will exclusively use GlobalFoundries for “22nm, 14nm, and 10nm semiconductors for the next 10 years.” It also says that its previously announced $3 billion investment in next-gen semiconductors over the next five years won’t be affected by the deal.

The terms of the deal state that GF will continue manufacturing Power processors for IBM for at least the next ten years and that the manufacturing centers in East Fishkill will remain open and fully staffed. Whether or not this translates into no job losses whatsoever isn’t clear, but New York State has aggressively negotiated job deals with IBM in the past and is likely to continue doing so with GlobalFoundries. It’s not clear if IBM is transferring jobs, IP, foundries, and land to GlobalFoundries or if the two manufacturers have worked out a leasing arrangement. GlobalFoundries isn’t just getting the right to build Power processors: it’s also won access to patents on Watson, IBM’s mainframe products, and the expertise of thousands of engineers across New York State.

It’s certainly interesting that IBM, whose foundries have always been regarded as strong, if small, is paying GlobalFoundries $1.5 billion in cash – $1.3 billion net, including a $200 million transfer of unspecific assets in the other direction — over three years to take over its own business segment. IBM’s chip-making unit reportedly makes a big loss — as much as $1.5 billion per year — which is probably why CEO Ginni Rometty, who is keen to boost the company’s profits, is jettisoning it.

Edasi jutt juba lingil:
http://www.extremetech.com/computing/192430-ibm-dumps-chip-unit-pays-globalfoundries-1-5-billion-to-take-the-business-off-its-hands