IBM Said to Focus on Chip Joint Venture Amid Dim Sale Prospects
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International Business Machines Corp. is focused on finding a joint-venture partner for its chip-manufacturing business after failing to attract a buyer for the division, two people with knowledge of the matter said.
Entering a partnership would let IBM maintain control of the design and intellectual property of the chips, said one of the people, who asked not to be identified because the deliberations are private. IBM already has a more limited development agreement with Globalfoundries Inc., which works with the company to make chips in New York state.