A year after GlobalFoundries was paid $1.5 billion to take over the IBM microchip business, it has established itself as the second largest chip manufacturer in the world.

GlobalFoundries, designers and manufacturers of nanotechnology for everything from faster, more powerful smartwatches and smartphones to missiles and satellites, jumped from fourth to second in terms of revenue following the takeover of IBM's microchip manufacturing facilities in East Fishkill and Burlington, Vermont, last year, according to Gartner, a high-tech research firm.

GlobalFoundries had nearly $4.7 billion in revenue in 2015, up from $4.4 billion in 2014. GlobalFoundries now has control of 9.6 percent of the market. The world’s largest chip manufacturer, Taiwan Semiconductor Manufacturing Co., had $26.5 billion in revenue last year.

One year after the acquisition, GlobalFoundries executives say they are leveraging the might and prestige of former IBM researchers and developers from East Fishkill to create what they call an “innovation hub” there. The company is looking to shed unused or underused buildings at the southern Dutchess campus as it faces uncertain economies in Europe and Asia and a tepid semiconductor sales market.

By: DocMemory
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