FILE PHOTO: The International Business Machines Corporation (IBM) logo is displayed, during the GSMA's 2023 Mobile World Congress (MWC) in Barcelona, Spain March 1, 2023. REUTERS/Nacho Doce/File Photo
(Reuters) -GlobalFoundries and IBM said on Thursday they have settled dueling lawsuits in which GlobalFoundries was accused of breaching a contract with IBM and the computer giant was alleged to have misused the chipmaker's trade secrets.
The companies said in a joint statement the terms of the settlement were confidential and would allow them to "explore new opportunities for collaboration."
