Synopsys (SNPS) said Wednesday it has agreed to sell its processor intellectual property business to GlobalFoundries (GFS) as part of a portfolio shift toward other design IP areas.

Financial terms were not provided.

Synopsys said GlobalFoundries will acquire its processor-related IP assets, including CPU, DSP and neural processing technologies, along with associated software tools.

The company said the sale, expected to close in H2, is not material to its financial results.

Shares of Synopsys were down 1%, while GlobalFoundries stock gained 0.1% near the open.