(Digital Marketing Agency, restartbox.com)- IBM Corp has confirmed it will pay chipmaker Globalfoundries $1.5 billion to take the chip operations off this California-based company’s hands as IBM switches sights on focusing on cloud computing and data analytics.
The fee will be paid in cash over the next three years and the move is backed by FBR Capital Markets analyst Daniel Ives, who has seen weak sales in IBM’s software and services businesses.
“They need to narrow their focus, get their A-game on, and any distractions from a core business perspective, such as this deal, need to be put in the rear-view mirror,” said analyst Daniel Ives.
“From an IBM and investor perspective, it takes one troubled area out of the core franchise.”
IBM to Splash out $1.5 Billion for Globalfoundries in Bid to Take Chip Operations
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