(Digital Marketing Agency, thesnsgroup.com) - IBM Corp
has confirmed it will pay chipmaker Globalfoundries $1.5 billion to take the
chip operations off this California-based company’s hands as IBM switches
sights on focusing on cloud computing and data analytics.
The fee will be paid in cash over the next three years
and the move is backed by FBR Capital Markets analyst Daniel Ives, who has seen
weak sales in IBM’s software and services businesses.
“They need to narrow their focus, get their A-game on,
and any distractions from a core business perspective, such as this deal,
need to be put in the rear-view mirror,” said analyst Daniel Ives.
"From an IBM and investor perspective, it takes
one troubled area out of the core franchise."
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