GlobalFoundries Posts Results, Makes Another Acquisition

Updated: GF has completed the acquisition of Photeon Technologies’ integrated voltage regulator (IVR) business

By Mark LaPedus

GlobalFoundries (GF) reported its results for the quarter and made another acquisition.

In its earnings release, GF disclosed that it has completed the acquisition of Photeon Technologies’ integrated voltage regulator (IVR) business. Headquartered in Austria, Photeon is a provider of power, control and sensor products.

With the acquisition, which was completed in July 2026, GF is adding IVR technology, specialized engineering talent, and R&D capabilities. Terms of the deal were not disclosed.

IVRs are fast becoming a hot topic in the semiconductor industry. Last year, for example, Marvell Technology announced that it is working with several IVR suppliers, including Photeon. Then, Analog Devices Inc. (ADI) recently acquired Empower Semiconductor, a supplier of IVRs and other products, for $1.5 billion.

“A voltage regulator is a circuit that creates and maintains a fixed output voltage, irrespective of changes to the input voltage or load conditions,” according to Monolithic Power Systems (MPS), a chip supplier.

Traditionally, voltage regulators are placed on the PCB in a system, according to Ferric, a supplier of IVRs. In the system, the power is delivered laterally through planes and vias in the PCB.

“As currents rise, current density requirements increase, and workloads change faster, these longer paths limit transient response and increase losses, making it harder to maintain both voltage regulation and efficiency,” according to Ferric in a blog. “Thus, as power density increases, PDN inductance and efficiency losses become dominant constraints. Integrated voltage regulators (IVRs) address this by moving regulation closer to the load, significantly shortening the power path and reducing impedance.”

Ferric’s IVRs integrate the controller, FETs, inductor and capacitors all in the same unit.

Now, GF is expanding its efforts in the arena. “GF and Photeon Technologies have worked together for many years on Integrated Voltage Regulator (IVR) technology, with GF serving as Photeon’s manufacturing partner in Dresden, Germany,” according to officials from GF.

“Building on that longstanding relationship, GF recently acquired the intellectual property rights to the IVR technology, as well as Photeon’s R&D operations in Italy and Serbia,” according to officials from GF. “Bringing the technology, IP, and R&D team in-house will help us accelerate development and commercialization of IVR technology while further strengthening our power management solutions portfolio.”

Photeon Technologies will continue to operate its design services and fabless business in Austria as an independent company and will remain a partner to GF, contributing its expertise to the continued advancement of the technology.

Acquisitions, results

Meanwhile, GF, a U.S.-based foundry vendor, continues to acquire companies to expand its portfolio. In May 2025, GF acquired MIPS, a supplier of processor IP. Then, in November 2025, GF acquired Advanced Micro Foundry (AMF), a silicon photonics foundry based in Singapore. And in June 2026, GF acquired Synopsys’ ARC Processor IP Solutions business.

This week, GF also reported its financial results for the second quarter ended June 30. Revenue was $1.786 billion for the quarter, up 9% from the previous quarter and up 6% from the like period ago. Net income was $167 million in the quarter, up 61% from the previous quarter but down 27% from a year ago.

“GF delivered strong results in the second quarter, with revenue and Non-IFRS gross margin exceeding the high end of our guidance ranges,” said Tim Breen, chief executive of GF, based in Malta, N.Y. “We continue to see strong momentum, accelerating customer demand, and revenue growth across our strategic growth drivers, including optical networking within the AI data center, where our differentiated silicon photonics and silicon germanium technologies are driving meaningful value for our customers.”

For the third quarter, GF projects that its sales will hit $1.885 billion, plus or minus $25 million.