IBM (NYSE: IBM) said the acquisition of the company's global commercial semiconductor technology business by GlobalFoundries has been completed.
With the closing of this transaction, GlobalFoundries becomes IBM's exclusive semiconductor processor technology provider for the next 10 years, ensuring a long-term supply of semiconductors for IBM systems. IBM Research will continue its deep focus on fundamental semiconductor and material science research and systems innovation to drive IBM's leadership in mainframe, power and storage systems as well as future cloud, big data and analytics systems.
"This announcement is the next step in our long-standing relationship with GlobalFoundries. IBM continues to invest in systems leadership, innovation and talent for the long-term," said Tom Rosamilia, senior vice president, IBM Systems. "IBM is designing and developing IT systems for the digital era -- including servers, storage and middleware that will empower our clients to drive new workloads and new business models."
IBM expects its unparalleled semiconductor and materials research, which has delivered such breakthroughs as copper chips, silicon germanium and quantum computing research, to continue to advance its capabilities in systems for years to come.