IBM's paying Globalfoundries to take over chip business

But IBM will pocket some USD 200 million worth of assets, which makes the final price tag of the deal USD 1.3 billion, according to Bloomberg citing two sources with knowledge in the matter. IBM has been looking for a way out of the chip business for a while now and has been in “back-and-forth” discussions for months. But as it looks, the company has finally made an agreement to exit the scene, the report concludes.