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Globalfoundries completes Chartered Semi integration
Resistance was futile
Globalfoundries CEO Doug Grose announced Wednesday that the company has completed the integration of Chartered Semiconductor and that the companies were now effectively one big, Abu Dhabi-owned chipmaker.
ATIC acquired Chartered for $5.6 billion last year and the deal was finalized in December. Former Chartered CEO Chia Song Hwee is now Globalfoundries' Chief Operating Officer.
The takeover and subsequent full integration of the companies have resulted in a rather interesting conglomeration of Globalfoundies' technological prowess, Chartered's long client list and seemingly endless ATIC's funding that will allow the company to expand at a fast pace. Globalfoundries now has more than 150 clients, a total of six fabs, as well as a fab under construction in New York State. Not bad for a company that did not even exist 15 months ago.
Grouse claims Globalfoundries will double its manufacturing capacity by 2014.