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Sunday, 24 January 2010

ATIC set to buy rest of Globalfoundries



The Abu Dhabi-based Advanced Technology Investment Company (ATIC) is poised to buy outright Globalfoundries, one of the biggest customised microchip makers in the world, from its US counterpart Advanced Micro Devices (AMD), according to a company filing.

ATIC already owned 65.8 per cent of the company and now plans to buy the remaining shares.

Globalfoundries has embarked on an aggressive expansion programme since it was formed in March last year, with the purchase of Singapore’s Chartered Semiconductor for S$5.6 billion (Dh14.64bn) in September and recently signed accords with the US chip designer Qualcomm and the Korean Semiconductor Industry Association.