GlobalFoundries (GFS) acquired Tagore Technology's power gallium nitride intellectual property portfolio for an undisclosed price.
This technology enhances power density, improving efficiency and performance in automotive, internet-of-things and AI datacenter applications, GlobalFoundries said Monday in a statement.
A team of engineers from Tagore will join GlobalFoundries as a part of the transaction.
Shares of GlobalFoundries fell 1.8% in recent trading Monday.
Price: 49.66, Change: -0.90, Percent Change: -1.78
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