IBM and GlobalFoundries (GF) have reached a settlement in their long-running legal dispute which saw both companies claim breach of contract and misuse of trade secrets and intellectual property. The two companies said the undisclosed settlement resolves “all litigation matters” and would allow them to “explore new opportunities for collaboration in areas of mutual interest.”
In a statement, Dr. Thomas Caulfield, president and CEO of GF, said: "We are pleased to have reached a positive resolution with IBM, and we look forward to new opportunities to build upon our long-standing partnership to further strengthen the semiconductor industry.”
Chairman and CEO of IBM, Arvind Krishna, echoed his sentiment, and added: “Resolving these disputes is a significant step forward for our companies and will allow us to both focus on future innovations that will benefit our organizations and customers.”
While the Bureau of Industry and Security (BIS) noted that the company voluntarily disclosed the breach to the department and cooperated with the investigation, it warned US companies “to be hypervigilant when sending semiconductor materials to Chinese parties.”
