Report: Intel In Talks To Buy GlobalFoundries
The Wall Street Journal is reporting that Intel is in talks to buy GlobalFoundries for about $30 billion. GlobalFoundries, one of the world's largest chip manufacturers, was created when Intel and its rival AMD spun off their manufacturing divisions more than 10 years ago. GlobalFoundries recently moved its headquarters from the Silicon Valley to Malta, New York. GlobalFoundries employs more than 7,000 people in the U.S., including nearly 3,000 in Malta. It also manufactures chips at its facilities in East Fishkill, New York and in Burlington, Vermont.
A GlobalFoundries spokesperson had no further comment on the report when reached Friday. The company is planning a press event Monday that "has nothing to do with current market rumors," according to the spokesperson.