Angry lose goods: Send IBM 1.5 billion dollars to get rid of chip manufacturing business

October 20, according to a Bloomberg report, two sources said IBM agreed to pay the globalfoundries 1.5 billion dollars to lose the chip manufacturing business unit. IBM will also receive 200 million of billions of dollars in net worth, so the company actually pays 1.3 billion dollars. As the agreement has not yet been made public, these people are asking for anonymity. Sources say two companies plan to announce the deal the next morning, local time. IBM issued a statement on the same day that it planned to issue a major statement the following day. After months of intermittent negotiations, Ginni Rometty, IBM's female CEO, Rometty the chip-making division, which is a drag on profits. GlobalFoundries, owned by the Abu Dhabi Government Investment Corporation, took over the department to acquire engineers and technology in semiconductor design and manufacturing. GlobalFoundries spokesman Kevin Kimboll (Kevin Kimball) declined to comment. IBM spokeswoman James Sels (Ames Sciales) did not respond to comment requests. In today's statement, IBM also said it planned to release its third-quarter results at 7 tomorrow morning, rather than after the US stock market closed. The company will hold an analyst conference call at 8 tomorrow morning. Analysts expect IBM's third-quarter profit to grow to 4.32 dollars per share, but revenues will fall for the 10th consecutive quarter. Rometty set the target for this year is 18 dollars/shares. IBM chip products, including PowerPC, have been used in computers, gaming consoles and other devices, but Intel's presence has left the company in the chip industry. The chip manufacturing business accounts for less than 2% of IBM's revenue, but loses 1.5 billion dollars a year. Transfer negotiation IBM has been a GlobalFoundries partner. In February this year, familiar sources said that IBM had been looking for buyers in the chip manufacturing sector at least since 2013, when it began seeking joint ventures because it failed to find a buyer. Then, in August, it was reported that IBM was willing to pay 1 billion dollars for GlobalFoundries to take over, but globalfoundries too low to agree. Throughout the negotiation process, GlobalFoundries was interested mainly in IBM's engineers and intellectual property, rather than in manufacturing plants. Even though IBM wants to quit the chip manufacturing business, it is still investing in semiconductors, controlling chip design and intellectual property. IBM plans to invest $3 billion in the next 5 years to develop new chips. (Mushulin)