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AMD to Buy ATI
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  Posted: Jul 25 2006, 08:49

Word Thrower

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Joined: November 9, 2004

In a bold move to gain more market share from its Goliath rival Intel, Advanced Micro Devices today announced that it will acquire one of the big two graphics chipmakers, ATI, in a transaction valued at approximately $5.4 billion.

AMD shares were down nearly 5 percent or 90 cents on the news in mid-day trading while ATI shares spiked up 18 percent or $3 per share.

“This is a strategy that has been in making for a number of years that culminated today with acquisition of ATI,” said AMD CEO Hector Ruiz in a press conference in New York this morning, announcing the deal. “There was always the knowledge that visual communications would play a much bigger role going forward.”


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