Abu Dhabi's tech fund ups stake in Globalfoundries to 100 per cent - The National

Abu Dhabi’s Advanced Technology Investment Company (Atic) is fully acquiring Globalfoundries, a semiconductor chip maker, as it seeks to grow business from an expanding market of smartphones and mobile gadgets.

The deal, which was announced this morning, means Atic is acquiring the remaining equity stake of nearly 9 per cent in Globalfoundries. That stake was previously controlled by Advanced Micro Devices (AMD), a semiconductor company headquartered in the US.

Acquiring the remaining stake in Globalfoundries is “much more than symbolic”, said Ibrahim Ajami, the chief executive of Atic.

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