Advanced Technology Investment Co. (ATIC) has completed its acquisition of Singapore's Chartered Semiconductor and is ready to integrate the company with the operations of GlobalFoundries, it said Friday.
Chartered shareholders approved the sale to ATIC, which is owned by the government of Abu Dhabi, in November but the deal still required regulatory approval before it could go through. Now that the deal is done, Chartered will be rolled into the operations of contract chip maker GlobalFoundries, a joint venture between Advanced Micro Devices and ATIC.
The Chartered acquisition extends GlobalFoundries presence, adding chip plants in Singapore to the company's facilities in Germany and a new plant under construction in the U.S.
GlobalFoundries is counting on this extended geographic reach and advanced manufacturing technology to win over new customers and compete against rival Taiwan Semiconductor Manufacturing Co.