It’s official: IBM to sell chip-making biz to GlobalFoundries — Tech News and Analysis

An unusual use of the term "sell"

"It’s true: IBM will pay GlobalFoundries $1.5 billion over three years to take over its commercial semiconductor manufacturing business and IBM will take a $4.7 billion cash charge for its third quarter as a result.

Under terms of the deal,  first reported by Bloomberg News, GlobalFoundries will be IBM’s exclusive provider of server processors in the 22-nm and 10-nm semiconductors for 10 years. And the $1.5 billion cash consideration will be adjusted by an estimated $200 million  depending on the amount of working capital involved, per an IBM statement."

It’s official: IBM to sell chip-making biz to GlobalFoundries — Tech News and Analysis