IBM and German semiconductor manufacturer Infineon Technologies have announced the sale of their respective stakes in Altis Semiconductor to Altis International, ending the joint venture.
According to statement released by the companies, Altis International is owned by Yazid Sabeg, a French government official and the chairman of board of security firm CS Communication & Systèmes.
Both companies said that they had signed supply contracts with Altis Semiconductor and will continue to use the France-based facility as part of their silicon foundry sourcing strategies and as a sub-contractor of wafer test services.
The Altis Semiconductor facility in France was being used to produce electronic components based on the 0.25-micron aluminum technology and 0.13-micron copper technology, for use in communication and security products.
Infineon and IBM have been trying to exit the joint venture for the past three years. The deal with the French entrepreneur comes after a number of failed negotiations with companies in Russia and other parts of Europe.
The financial details of the deal have not been disclosed.