Weil is advising GLOBALFOUNDRIES in its agreement to acquire IBM’s global commercial semiconductor technology business, including intellectual property and technologists and technologies related to IBM Microelectronics. Following completion, GLOBALFOUNDRIES will also receive $1.5 billion cash over three years from IBM and will become IBM’s exclusive server processor semiconductor technology provider for 22nm, 14nm and 10nm semiconductors for the next 10 years. This acquisition will give GLOBALFOUNDRIES a substantial intellectual property portfolio containing thousands of patents, making it the holder of one of the largest semiconductor patent portfolios in the world. Completion of the transaction is subject to the satisfaction of regulatory requirements and customary closing conditions.
GLOBALFOUNDRIES is the world’s first full-service semiconductor foundry with a global manufacturing footprint, and is the second largest semiconductor foundry in the world. GLOBALFOUNDRIES is owned by Mubadala Development Company PJSC. IBM is a multinational technology and consulting corporation.
The Weil team advising GLOBALFOUNDRIES was led by Corporate partner William Gutowitz. Technology & IP Transactions partner Karen Ballack headed up the team handling the intellectual property aspects of the transaction. In addition, the team included Corporate partner Jackie Cohen; Technology & IP Transactions partner Jeffrey Osterman; Patent Litigation partner Anne Cappella; Real Estate partner Beatriz Azcuy-Diaz; Tax partner Kimberly Blanchard; Executive Compensation & Employee Benefits partner Paul Wessel; Environmental partner Annemargaret Connolly; Corporate counsel Donald Whittaker; Technology & IP Transactions counsel Arlene Hahn; Executive Compensation & Employee Benefits counsel Jeffrey Lieberman; Corporate associates Dawn Kim, Dening Kong, Rachel Shapiro (not yet admitted to practice) and Christina de Vuono (not yet admitted in New York); Technology & IP Transactions associates Alexa Chu Clinton, Caroline Geiger, Marisa Geiger, Jeremy Hutcher, Nick Sinclair and Janell Wise; Environmental associate Thomas Goslin; Real Estate attorney Leslie Smith; Tax associate Joey Juhn; and Executive Compensation & Employee Benefits associates Brian Hamano and Verity Rees.
Source: www.weil.com
