IBM's stop-start chip deal with GlobalFoundries resumes: Reports

Big Blue is set to make a major announcement later today, US time, with reports that IBM will pay $1.5 billion to part with its chip business.

IBM has signalled in a statement that it will make a "major business announcement", with Bloomberg reporting that IBM will finally part with its chip-making business.

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Bloomberg reported that IBM will pay GlobalFoundries $1.5 billion to take on the business, and receive $200 million of assets in return.

The mooted shedding of IBM's chip business has been close to finalising before, only with the deal to collapse.

In July, a deal with the same pair of partners fell through , after terms could not be agreed to.

Earlier this year, IBM parted with its x86 server business, which was sold to Lenovo for $2.3 billion , and had engaged Goldman Sachs to find a buyer for its chip manufacturing.

If confirmed that the deal between IBM and GlobalFoundries will be the latest in a growing list of companies that have separated or divested business units recently.

Since the end of September, eBay has announced that it will spin off PayPal into a separate publicly traded company; HP has decided to split itself into a PC and printer businesses and an enterprise business; and Symantec will fracture itself into a security-focused company and an information management business.

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