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IBM may sell chip unit to Globalfoundries: WSJ
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IBM May Sell Chip Unit to Globalfoundries: WSJ. IBM Corp has agreed to hive off its loss-making semiconductor unit to contract-chipmaker Globalfoundries Inc, the Wall Street Journal reported, citing people familiar with the matter.
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IBM Corp has agreed to hive off its loss-making semiconductor unit to contract-chipmaker Globalfoundries Inc, the Wall Street Journal reported, citing people familiar with the matter.
IBM will pay Globalfoundries $1.5 billion to take the chip operations off its hands, WSJ said.
IBM has issued an advisory saying it would make a "major business announcement" on Monday.
Talks between IBM and Globalfoundries has been going on for a while.
IBM is also scheduled to report its third-quarter earnings on Monday.
Representatives at IBM and Globalfoundries were not immediately available for comment outside regular US business hours.
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