Tuesday, March 06, 2012: Globalfoundries has agreed to terms with AMD to acquire the remaining stake in Globalfoundries. With this move, the company said it has fulfilled its long-term vision of becoming an independent foundry company. The agreement is part of an amendment to the commercial Wafer Supply Agreement (WSA) with AMD. According to the firm, it positions Globalfoundries as a pure-play semiconductor foundry company with AMD as one of its primary and strategic customers. Globalfoundries will now be wholly owned by the Advanced Technology Investment Company (ATIC).
"Today marks the start of a new era for Globalfoundries as it becomes a truly independent foundry," said Ajit Manocha, CEO, Globalfoundries. "Globalfoundries has a clear vision to be the leading semiconductor foundry partner to AMD and one of the world's top technology companies. We continue to execute on our strategy to propel ATIC's long-term investment philosophy into true value creation for our shareholder and customers."