IBM talks with Globalfoundries break down over price

Whatsapp News

WASHINGTON – International Business Machines Corp’s attempt sell its slumping chip manufacturing business Globalfoundries Inc deteriorated when two failed agree a price, Bloomberg reported Friday.

between two marks a setback for IBM, which has been trying divest its chip making business focus instead chip and design. [eap_ad_1] IBM rejected Globalfoundries’ offer because it was too low, Bloomberg reported, citing familiar matter.

Earlier this month, the company announced a $3 billion investment chip and development over the next five years. (Reuters)