AMD has recieved all required approvals for its Xilinx acquisition to go ahead
AMD and Xilinx will soon become one
Published: 10th February 2022 | Source: AMD |
AMD's acquisition of Xilinx is due to close on Valentine's Day
AMD has confirmed that they have recieved all required approvals for its Xilinx acquisition to go ahead, stating that the deal should be closed on February 14th 2022, neatly marrying the two companies on Valentine's day.
Once their acquisition of Xilinx is concluded, AMD and Xilinx will have access to each other's IP, free cashflow and expertise. AMD's branding and customer relations should help Xilinx's products find more customers, and AMD will benefit in Xilinx's expertise in creasing cutting-edge accelerators and FPGAs. AMD will be able to access more market, and AMD will be able to compete with Intel in more areas.
Together, AMD and Xilinx expects to cut their annual costs by $300 million per year once both companies are integrated, money which can be channelled into other areas to increase the efficiency of the now merged companies.
Once this acquisition is complete, two of Xilinx's executives will join AMD's board of directors and AMD will become a much larger company with more engineers and boosted R&D spending. Whether or not AMD's purchase of Xilinx will be a long-term success remains to be seen. While both companies have seen exceptional levels of growth over the past few quarters, it is unknown if this success will last.
Below is AMD's Press Release on their Xilinx acquisition expectations.
Press Release - AMD Receives All Necessary Approvals for Proposed Acquisition of Xilinx
AMD (NASDAQ: AMD) today announced that it has received approval from all necessary authorities to proceed with the acquisition of Xilinx, Inc. (NASDAQ: XLNX).
With the exception of the remaining customary closing conditions, all conditions to the transaction closing have been satisfied and the company expects the transaction to close on or about February 14, 2022.
AMD announced its intention to acquire Xilinx in an all-stock transaction on October 27, 2020. The transaction brings together two industry leaders with complementary product portfolios and customers, combining CPUs, GPUs, FPGAs, Adaptive SoCs and deep software expertise to enable leadership computing platforms for cloud, edge and intelligent end devices.