IBM and Global Foundries settle long-running lawsuit

Date:
Fri, 03 Jan 2025 14:00:00 +0000

Description:
Following two lawsuits in 2021 and 2023, IBM and Global Foundries have
reached a settlement, but it's not known exactly what.

FULL STORY ======================================================================IBM and Global Foundries agree to settle previous lawsuits Details of the settlement remain undisclosed Deal stems from two lawsuits in 2021 and 2023

IBM and Global Foundries have confirmed reaching a settlement, years in the making, to effectively resolve all litigation matters, including breach of contract, trade secrets and intellectual property claims.

Confirmation of the settlement came from the two companies ( Global Foundries , IBM ), marking the end of their ongoing two-sided legal dispute.

The two firms stated they were satisfied with the outcome, however exact details of the settlement remain under wraps. IBM-Global Foundries legal dispute settled

After selling its chip manufacturing business to Global Foundries in 2015,
IBM filed a lawsuit against the company for allegedly breaching a contract stipulating that GF would supply IBM with advanced processors for a decade following the transaction.

Two years later, Global Foundries responded with its own lawsuit filing, accusing IBM of sharing GFs trade secrets with chipmakers Intel and Rapidus.

At that time, in 2023, GF stated : It also raises concerns over the extent to which IBM may have unlawfully disclosed GFs IP and trade secrets beyond these two heavily publicized partnerships.

The company sought compensatory and punitive damages and for IBM to stop further unlawful disclosure and use of GFs trade secrets.

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," noted Dr Thomas Caulfield, president and CEO of GF.

IBM chairman and CEO Arvind Krishna 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. You might also like Check out the best processors for your next computer GlobalFoundries sues IBM over alleged trade secrets breach Need a new
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Link to news story: https://www.techradar.com/pro/ibm-and-global-foundries-settle-long-running-law suit


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