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Qualcomm buys AMD’s handheld graphics and multimedia assets

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Qualcomm buys AMD's handheld graphics and multimedia assets

San Diego (CA) and Sunnyvale (CA) – Qualcomm Incorporated announced today that it has “acquired certain graphics and multimedia technology assets, intellectual property and resources that were formerly the basis of AMD’s handheld business.” Qualcomm paid $65 million in cash for the assets, $0.02 per share – which includes some AMD employees that now have offers made to work at Qualcomm.

Qualcomm’s Steve Mollenkopf, executive VP and president of the company’s CDMA technologies division, said “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. Bringing this technology in-house creates even greater synergy as we seamlessly integrate the best-in-class multimedia performance AMD offers into our system-on-chip (SoC) products.”

AMD’s Robert J. Rivet, chief operations, administrative and financial officer, said, “With the sale of these handheld technology assets and resources to Qualcomm, we are better able to focus on our core business and leverage our unique position as a leader in both x86 computing and high-end graphics. We believe the talented AMD Handheld employees will be a great asset to Qualcomm.”

Qualcomm will continue developing the acquired technologies to “enhance mobile devices in areas including 2D and 3D graphics, audio/video, display and architecture.” The deal was finalized yesterday, having already received regulatory approval.

See Qualcomm’s press release.