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GlobalFoundries and IBM settle ongoing lawsuits
GlobalFoundries and IBM have settled their ongoing lawsuits, resolving all litigation matters, including breach of contract, trade secrets and intellectual property claims between the two companies.
The settlement marks the end of an ongoing legal dispute and will allow the companies to explore new opportunities for collaboration.
"We are pleased to have reached a positive resolution with IBM, and we look forward to new opportunities to build upon our long-standing partnership to further strengthen the semiconductor industry," says Dr. Thomas Caulfield, president and CEO of GF in a press release.
The details of the settlement have not been made public but both parties have expressed satisfaction with the outcome.
“Resolving these disputes is a significant step forward for our companies and will allow us to both focus on future innovations that will benefit our organizations and customers,” adds Arvind Krishna, Chairman and CEO of IBM.
