After weeks of speculation, AMD has finally confirmed that it is to buy ATI for $5.4 billion ($4.2 billion in cash and 57 million shares of AMD common stock). The acquisition is expected to be completed during Q4 2006.
AMD announced that this deal will create "a new and more formidable company, determined to drive growth, innovation and choice for its customers"
Its been suggested. that this will create a "formidable" competitor to Intel, Nvidia, Sis and other chip makers.
AMD Chairman and CEO Hector Ruiz said
"ATI shares our passion and complements our strengths: technology leadership and customer centric innovation. Bringing these two great companies together will allow us to transcend what we have accomplished as individual businesses and reinvent our industry as the technology leader and partner of choice."
|
|
