Globalfoundries eyeing IBM’s chip-making business

June 12, 2014 2:04 am

Mubadala Technology is nearing a deal to acquire IBM Corp’s chip-making business, Bloomberg has reported, citing people familiar with the matter. Globalfoundries Inc., a unit of Abu Dhabi’s Mubadala Technology, is primarily interested in acquiring IBM’s engineers and intellectual property rather than manufacturing facilities, which have little value as they are more than a decade old, said the people. The firm, which has its own plant in New York State and a technology joint development project with IBM, will act as a supplier for IBM’s microprocessors, the people said.