Abu Dhabi's government investment vehicle ATIC announced it is finalizing its acquisition of Chartered. ATIC CEO Ibrahim Ajami said they will now focus on combining Chartered and GlobalFoundries:
"With the approval process behind us, we will now focus our attention on combining two great companies, Chartered and Globalfoundries," ATIC CEO Ibrahim Ajami said in the statement. ATIC has the majority stake in Globalfoundries, the manufacturing arm of AMD (Advanced Micro Devices).
"Customers have told us they are excited about the combination of technology, talent and capacity this new entity will bring to the marketplace," he added. "We share their enthusiasm."