Abu Dhabi's ATIC Offers to Buy Chartered Semiconductor Manufacturing
September 11, 2009
The Abu Dhabi state-owned investment company
ATIC (Advanced Technology Investment Company) has offered to buy out Singapore's
Chartered Semiconductor Manufacturing and merge the company into
GlobalFoundries, a chip manufacturing venture set up by ATIC and AMD in March
2009, EE Times reported on September 7, 2009. ATIC is expected to spend a total
of US$3.9 billion on acquiring Chartered, and the transaction is slated for
completion in the fourth quarter of 2009. It is projected that by drawing on
Chartered's customer base and GlobalFoundries' technology and capacity, the new
combined entity will be able to hold its ground in the semiconductor industry
against market leader TSMC and other competitors.