ATIC Looking for Full Control of Globalfoundries
Abu Dhabi's ATIC, which helped create Globalfoundries when AMD spun off its manufacturing business, is looking to assume full control of the company, according to a report. The move would let AMD divest itself fully from the chip manufacturing business. The report comes a week after Globalfoundries officials announced that the company had completed the integration of Chartered Semiconductor Manufacturing, which it bought for $1.8 billion.Advanced Technology Investment Co. reportedly is looking to take full control of Globalfoundries, the processor manufacturing venture created in 2009 with chip maker Advanced Micro Devices. AMD spun off its manufacturing business to create Globalfoundries as part of its goal of becoming a fabless company that designs its processors and then outsources the manufacturing of the chips.
According to documents filed by Abu Dhabi's ATIC with the Germany cartel office and cited by Reuters, ATIC's plan to assume full control of Globalfoundries was part of the strategy when it and AMD created the business. AMD officials planned to eventually give up any stake in Globalfoundries, according to the documents cited by Reuters.