GloFo buys out AMD's stake, becomes fully independent

The company that was created when AMD spun off its manufacturing arm, GlobalFoundries, will soon become a fully independent chip foundry. The firm's parent company, ATIC, has agreed to buy AMD's remaining stake in GloFo. From the press release:

Milpitas, Calif., March 4, 2012 – GLOBALFOUNDRIES today announced it has agreed to terms with AMD to acquire the remaining stake in GLOBALFOUNDRIES, fulfilling the company’s long-term vision of becoming an independent foundry company.

The agreement, part of an amendment to the commercial Wafer Supply Agreement (WSA) with AMD, firmly positions GLOBALFOUNDRIES as a pure-play, leading semiconductor foundry company with AMD as one of its primary and strategic customers. GLOBALFOUNDRIES will now be wholly owned by the Advanced Technology Investment Company (ATIC).

"Today marks the start of a new era for GLOBALFOUNDRIES as it becomes a truly independent foundry," said GLOBALFOUNDRIES CEO Ajit Manocha. "GLOBALFOUNDRIES has a clear vision to be the leading semiconductor foundry partner to AMD and one of the world’s top technology companies. We continue to execute on our strategy to propel ATIC’s long-term investment philosophy into true value creation for our shareholder and customers."

We don't yet have any details about what ATIC is paying to acquire AMD's stake in GloFo, but the transaction doesn't look to be in any way severing the customer-supplier ties between the two firms. The purchase comes as part of an update to the wafer supply agreement between them, in fact. This change does very much cement GloFo's status as an independent entity, though, as it does AMD's status as a purely fabless semiconductor firm.

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