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Abu Dhabi-controlled GlobalFoundries breaks ownership ties with AMD
DUBAI, United Arab Emirates (AP) ' 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 AMD's 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 weren't immediately available.
GlobalFoundries was founded as a spin-off of AMD in 2009. Abu Dhabi's government-owned Advanced Technology Investment Company took a majority stake following the separation.