The wait is over, ATI and AMD have sealed the deal
The official AMD-ATI announcement is still three hours away (AMD sent the newswire out a few hours early for some reason), but we will be bringing you coverage live during the briefing. For those still in doubt, occasional DailyTech blogger and T-Break Editor-In-Chief Abbas Jaffar Ali was able to sneak an image from the conference already; and a picture is worth a thousand words.
AMD announced the deal is valued around $5.4B USD: $4.2B in cash and 57M shares of AMD common stock will be used to purchase the ATI in a takeover bid. AMD's press release also claims that the combined company would have had approximately $7.3B in sales over the last four quarters and more than 15,000 emploees.
The new company keep the AMD headquarters in Sunnyvale, California, and the previous ATI headquarters will act as a business hub for part of the company. ATI's previous CEO Dave Orton will act as executive vice president of the ATI division and report directly to Hector Ruiz and Dirk Meyer.
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