Updated on
Summary The chip company said that it would acquire AMD's share but retain the producer as a key customer.
A microchip manufacturer controlled by the Abu Dhabi government says it has reached an agreement to acquire a minority stake held by former owner Advanced Micro Devices.The chip company, Milpitas, Calif.-based GlobalFoundries, said Monday that it would acquire AMDs share but retain the producer as a key customer.GlobalFoundries said that the deal fulfills its ambition of becoming an independent foundry. A foundry typically manufacturers chips made to order for microchip producers such as AMD.Financial details werent immediately available.GlobalFoundries was founded as a spin-off of AMD in 2009. Abu Dhabis government-owned Advanced Technology Investment Company took a majority stake following the separation.
