AMD completes deal with ATIC to create The Foundry Company

Tuesday 03rd March 2009, 09:19:00 AM, written by Rys

AMD, the Advanced Technology Investment Company, and Mubadala Development Company have put final ink on paper to create The Foundry Company.  AMD's press release indicates The Foundry Company isn't the name the parties have settled on, with the new name and associated bits set to be announced later in the week.

The deal between the companies lets AMD as an entity significantly strengthen its financial and future position in a fairly horrible economic climate, which is everything the company and its partners have been looking for over a bumpy couple of years.  Congratulations to all involved, especially since it secures the position of the Graphics Products Group within AMD.

AMD itself becomes a fab-less semiconductor manufacturer again, relying on The Foundry Company and its relationships with other foundries, including TSMC who fabricate the GPG's product line, to produce the final silicon.

The deal, first announced back in October of last year and under the umbrella of Asset Smart, leaves AMD around $825 million better off in terms of cash in the bank, and officially puts its fabs and manufacturing plants in control of The Foundry Company. 

AMD and ATIC share equal voting rights and stock control over The Foundry Company, although ATIC's formal shares-based ownership might increase over time if AMD can't match capital investments required to take The Foundry Company forward.

You can read the press release at
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amd ± ati, the, foundry, company, atic, mubadala

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