Philips Electronics NV is to buy out IBM Corp’s 48% share of the joint venture logic fabrication plant in Boeblingen, Germany. The two established the plant together back in 1994 (CI No 2,519), with Philips buying into IBM’s existing 4Mb memory chip plant. Philips was using the plant to produce 0.8 micron CMOS logic devices. IBM decided to end its memory chip production due to the current market slump. Philips, which expects to complete the purchase from IBM by the end of the year, will continue to use it to supply the logic chips needed for its cellular phones. No financial details were disclosed. But it was a busy day for Philips. The Netherlands-based company also agreed to buy Bothwell, Washington-based medical imaging company ATL Ultrasound for $800m. It will add the company to its Philips Medical Systems unit.
