Mergers and Acquistions News
Categories: Media & Information Services
January 22nd 2009, 17:09PM
Qualcomm has announced the acquisition of Advanced Micro Devices' (AMD) handheld graphics technology in a deal worth around $65 million (£47 million).
For Qualcomm, the sale sees it gain graphics and multimedia technologies, intellectual property and the resources which formed the basis of AMD's handheld business.
The deal enables AMD to focus on its core operations of computer processors and graphics chips.
As part of the acquisition, Qualcomm will take over the employment of AMD's technology staff.
The design and development team is working on areas including display, 3D graphics and audio/video.
AMD chief operations and administrative and financial officer Robert J Rivet says his staff will be "a great asset" to Qualcomm.
Reacting to the news, Steve Mollenkopf, executive vice-president of Qualcomm, comments: "This acquisition of assets from AMD's handheld business brings us strong multimedia technologies, including graphics cores that we have been licensing for several years."
Founded in 1985, Qualcomm owes some of its success to commercialising Code Division Multiple Access technology, an innovative radio device partly invented by the Hollywood actress Hedy Lamarr. 
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