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IBM Gets Closer To A Deal For Chip Making Unit With GlobalFoundries

Date:
June 11, 2014
Source:
TheStreet / Powered by NewsLook.com
Summary:
IBM is getting closer to a deal for its semiconductor manufacturing unit with GlobalFoundries. IBM has been attempting to unload this unit, which loses up to $1.5 billion each year. GlobalFoundries is emerging as the most likely takeover candidate over other interested parties, such as Intel and Taiwan Semiconductor Manufacturing. The most valuable parts of the troubled IBM unit are its engineers and intellectual property. GlobalFoundries isn't very interested in IBM's manufacturing plants because it has its own modern facilities. Who gets to control what intellectual property will determine almost everything about this deal, including the price. IBM initially asked for more than $2 billion and potential bidders said they would be willing to pay half of that. In any case, the price has a lot of room to fluctuate depending on how much intellectual property IBM is willing to include. Video provided by TheStreet
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