GlobalFoundries and IBM have announced the resolution of their legal disputes. The two companies, which had been involved in litigation over breach of contract, trade secrets, and intellectual property claims, have reached a settlement. This agreement ends their ongoing legal conflict and opens possibilities for future collaboration.

The specifics of the settlement remain confidential. Both companies expressed contentment with the resolution. Dr. Thomas Caulfield, president and CEO of GlobalFoundries, stated, "We are pleased to have reached a positive resolution with IBM, and we look forward to new opportunities to build upon our long-standing partnership to further strengthen the semiconductor industry." Arvind Krishna, Chairman and CEO of IBM, remarked that "resolving these disputes is a significant step forward for our companies and will allow us to both focus on future innovations that will benefit our organizations and customers."

GlobalFoundries is recognized as a leading manufacturer of essential semiconductors used in various high-growth markets such as automotive and smart mobile devices. The company emphasizes innovation, power efficiency, high performance, security, longevity, and sustainability across its global manufacturing operations.

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