Well, Globalfoundries was exactly in the same situation directly after they were spun off from AMD and they bought Chartered Semiconductors to get foundry knowledge into their company. They also hired a lot of ex-freescale and ex-IBM people.
Wait I thought GloFo essentially gave up the node race and was settling into 'not the latest and greatest' market a la TI. Is that not a correct assumption?
Essentially, but now they have Intel nodes to sell as well. It's a fairly reasonable plan, and I doubt Intel will stay behind TSMC node-wise forever.