Re: IBM purchases gf: IBM pays $1.5 billion to GF to take chip unit off its hand

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wanttoretireearly

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Re: IBM purchases gf: IBM pays $1.5 billion to GF to take chip unit off its hand

in response to

IBM purchases gf

andy7

posted on Oct 19, 2014 07:19PM

Andy you got this backwards.

IBM paid $1.5 billion to GF and gave GF its (IBM) chip unit.

"International Business Machines Corp. (IBM) agreed to pay Globalfoundries Inc. $1.5 billion to take an unprofitable chip-manufacturing unit off its hands"

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