Advanced Micro Devices, better known as AMD, has announced plans to acquire fellow American chipmaker, Xilinx in an all-stock deal worth US$ 35 Billion. Under the terms of the agreement, the AMD-Xilinx deal has been approved by the shareholders on both sides, however, still subject to approval from certain regulatory approvals and other customary closing conditions. It is set to close by the end of 2021.
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The AMD-Xilinx link-up is the latest in the rapidly integrating semiconductor industry and AMD’s biggest acquisition till date. The combination of both companies will result in a combined team of 13,000 engineers as well as over US$ 2.7 billion worth of research and development (R&D) spending.
Commenting on the launch, AMD President and CEO Dr. Lisa Su said:
“Our acquisition of Xilinx marks the next leg in our journey to establish AMD as the industry’s high-performance computing leader and partner of choice for the largest and most important technology companies in the world. This is truly a compelling combination that will create significant value for all stakeholders, including AMD and Xilinx shareholders who will benefit from the future growth and upside potential of the combined company. The Xilinx team is one of the strongest in the industry and we are thrilled to welcome them to the AMD family. By combining our world-class engineering teams and deep domain expertise, we will create an industry leader with the vision, talent and scale to define the future of high-performance computing.”
Upon the closing of the transaction, AMD President and CEO, Dr. Lisa Su will lead the AMD-Xilinx combined company as CEO while current Xilinx President and CEO, Victor Pen will take on the role of the president responsible for Xilinx business and strategic growth initiatives. At least two other Xilinx directors will also join the AMD Board of Director.
Source: AMD Newsroom
Via: Business Insider
