IBM pays $1.5bn to offload loss making chip unit - BBC News

BBC News
IBM pays $1.5bn to offload loss making chip unit
BBC News
IBM is to pay $1.5bn in cash to offload its loss-making chip manufacturing division to Abu Dhabi sovereign wealth fund GlobalFoundries. IBM, which wanted to avoid the cost of upgrading the unit's technology, said it would now focus on cloud computing, ...

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