MUNICH Jan 20 AbuDhabi's ATIC has filed an
application with Germany's cartel office to take over
Globalfoundries, a contract chipmaking venture it established
with Advanced Micro Devices AMD.N last year.
The Advanced Technology Investment Co. (ATIC) filed the
application on Jan 12 according to the cartel office website.
"This action is simply consistent with the long-announced
plan for AMD to gradually become fab-less, which was one of the
key strategies behind the creation of Globalfoundries," Atic
"Fab-less" is the industry term used when semiconductor
makers design their own products but outsource their
AMD spun off its semiconductor manufacturing arm into the
joint venture GlobalFoundries, which started operations in March
2009 and has a plant in Dresden, in eastern Germany, as well as
Saratoga, New York.
Chief Executive Doug Grose told Reuters last week that AMD
will reduce its stake in the company over time and continue to
focus on chip design. [ID:nN12123697]
ATIC invested $2.1 billion for a 65.8 percent stake of the
venture. Of that, $700 million went directly to AMD, which holds
the remaining stake.
AMD is due to report on its fourth-quarter earnings on Jan
(Reporting by Jens Hack in Munich and Ian Sheer in San
Francisco. Writing by Nicola Leske; editing by Elaine