Global Foundries today announced it has agreed to terms with AMD to acquire the remaining stake in Global Foundries, fulfilling the company’s long-term vision of becoming an independent foundry company.
The agreement, part of an amendment to the commercial Wafer Supply Agreement (WSA) with AMD, firmly positions Global Foundries as a pure-play, leading semiconductor foundry company with AMD as one of its primary and strategic customers. Global Foundries will now be wholly owned by the Advanced Technology Investment Company (ATIC).
“Today marks the start of a new era for Global Foundries as it becomes a truly independent foundry,” said Global Foundries CEO Ajit Manocha. “Global Foundries has a clear vision to be the leading semiconductor foundry partner to AMD and one of the world’s top technology companies. We continue to execute on our strategy to propel ATIC’s long-term investment philosophy into true value creation for our shareholder and customers.”
This acquisition of shares is the latest in a series of announcements marking significant milestones as Global Foundries continues to gain strong momentum in the global semiconductor industry:
The acquisition of shares is part of a revised WSA for 2012 between GLOBALFOUNDRIES and AMD aimed at strengthening their strategic business partnership and commitment to delivering leading-edge technology solutions.
Source: PR
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