Qualcomm Acquires Handheld Graphics Assets from AMD
Qualcomm Incorporated today announced that Qualcomm has acquired certain graphics and multimedia technology assets, intellectual property and resources that were formerly the basis of AMDs handheld business. The acquisition enhances Qualcomms multimedia capabilities, allowing Qualcomm to strengthen its leadership position in delivering more advanced products that redefine next-generation mobile user experiences.
The two companies signed and closed a binding agreement on January 19, 2009, having already received required regulatory approvals. Cash consideration from Qualcomm to AMD, as part of the transaction, is $65 million, subject to adjustments for employee-related expenses and a holdback for certain customary indemnification obligations. Both AMD and Qualcomm are committed to a seamless transfer of business assets, as well as a smooth transition for employees.
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