AMD to Acquire Xilinx in Early 2022
The planned acquisition of Xilinx by AMD is now expected to take place in the first quarter of 2022, the companies have announced. This is several months later than anticipated by both parties, with the reason for the delay not revealed.
In a joint statement, the companies said: “We continue making good progress on the required regulatory approvals to close our transaction. While we had previously expected that we would secure all approvals by the end of 2021, we have not yet completed the process and we now expect the transaction to close in the first quarter of 2022. Our conversations with regulators continue to progress productively, and we expect to secure all required approvals”.
It was announced in October 2020 that the companies had entered into a definitive agreement for AMD to acquire Xilinx in an all-stock transaction valued at $35 billion. In April 2021, stockholders approved the acquisition. Following the completion of the acquisition, AMD will employ 13,000 engineers and boast over $2.7 billion of annual1 R&D investment.
AMD is an innovator of high-performance computing, graphics and visualization technologies ― the building blocks for gaming, immersive platforms and the data centre. Xilinx develops highly flexible and adaptive computing platforms that enable innovation across a variety of technologies – from the cloud to the edge, to the endpoint. Xilinx is also the inventor of the FPGA and Adaptive SoCs.
When completed, Dr Lisa Su will lead the combined company as CEO. Xilinx President and CEO, Victor Peng, will join AMD as president responsible for the Xilinx business and strategic growth initiatives, effective upon closing of the transaction. In addition, at least two Xilinx directors will join the AMD Board of Directors upon closing.
“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,” AMD President and CEO Dr Lisa Su said. “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”.
There are no additional charges to the previously announced terms or plans regarding the transaction.
- Based on trailing twelve months.
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