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AMD joins forces with ATI |
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July 24, 2006
Technology giants
Advanced Micro Devices (AMD) and
ATI Technologies Inc. (ATI) today announced plans to merge.
Canadian
ATI will be bought by the Californian
AMD for 5.4 billion dollars ($4.2 billion in cash and $1.2
billion in
stock).
The
ATI Technologies Inc. (ATI) acquisition is being funded by a
$2.5 billion loan, plus cash and cash equivalents and short-term
investment balances of approximately $3.0 billion. That’s total
funding of $5.5 billion.
Many people believe
Advanced Micro Devices (AMD) to be taking too much of a
risk, that
AMD is "betting the farm on a deal that might be very
questionable."
The new firm will employ near 14900 people for
7.3 billions dollars earning. The two firms announced they'll
plan no job cutting in the process of merging.
Sources
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