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AMD looking to break ties with GlobalFoundries?

ATIC said to take full ownership

| Business, Financial & Legal News | Posted: Jan 21, 2010 7:42 am

Word has come about that ATIC (Advanced Technology Investment Company) based in Abu Dhabi is looking to take full ownership of GlobalFoundries, whereby currently it is shared by both ATIC and AMD with AMD owning 34.2% of the company.

 

AMD are said to be very content with this as they are looking to leave the manufacturing business and stick to being a fab-less design company. Selling off part or perhaps all of its stake in GlobalFoundries will allow AMD to financially blossom by paying off remaining debts and invest more in R&D.

 

While no official announcement about the news has surfaced yet, we expect we'll be hearing more about this in the coming months.

 

NEWS SOURCES:Tcmagazine.com

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