Description Gracious me, Grace is already a full-grown foundry! Grace Semiconductor Manufacturing Corporation (GSMC) is a silicon foundry, a contract manufacturer of semiconductors for other companies. GSMC, which operates three wafer fabrication plants, makes mixed-signal chips combining analog and digital features for such customers as Cypress Semiconductor and Oki Semiconductor. Grace partnered with Synopsys, a leading vendor of semiconductor design software, to jointly develop a reference design flow. The company has merged with Hua Hong Semiconductor to create a new entity that is 64% owned by Hua Hong and 36%-owned by GSMC, whose investors include Cheung Kong and Hutchison Whampoa.