GloFo completes acquision of IBM's semi business

With the closing of this transaction, Globalfoundries becomes IBM's exclusive semiconductor processor technology provider for the next 10 years, ensuring a long-term supply of semiconductors for IBM systems. IBM Research will continue its focus on fundamental semiconductor and material science research and systems innovation. "This announcement is the next step in our long-standing relationship with Globalfoundries. IBM continues to invest in systems leadership, innovation and talent for the long-term," said Tom Rosamilia, senior vice president, IBM Systems. "IBM is designing and developing IT systems for the digital era -- including servers, storage and middleware that will empower our clients to drive new workloads and new business models."