Monday July 24, 2006 6:00 pm
AMD Gobbles Up ATI for $5.4 Billion
Intel competitor AMD made a major move today to combat its larger rival as it scooped up video graphics processing company ATI for a whopping $5.4 billion dollars. Through this acquisition, AMD is looking to “position the new company to deliver innovations that fulfill the increasing demand for more integrated solutions in key market segments while also continuing to develop ‘best-of-breed’ discrete products that empower customers to choose the combination of technologies that best serves their needs”.
The merger, subject to ATI shareholder approval, Canadian court supervision of a Plan of Arrangement, and other regulatory approvals including merger notification filings in the United States, Canada and other jurisdictions, as well as customary closing conditions, is expected to be completed in the fourth quarter of 2006.
Read More | AMD/ATI Press Release
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