{"id":1243,"date":"2009-03-04T08:08:42","date_gmt":"2009-03-04T08:08:42","guid":{"rendered":"http:\/\/power-up.space\/?p=1243"},"modified":"2009-03-04T08:08:42","modified_gmt":"2009-03-04T08:08:42","slug":"amd-closes-%e2%80%9casset-smart%e2%80%9d-transaction-%e2%80%93-fulfills-vision-to-create-two-leadership-companies-capable-of-delivering-transformative-innovation-and-impact-to-the-global-technology-in","status":"publish","type":"post","link":"https:\/\/www.impulsegamer.com\/wordpress\/?p=1243","title":{"rendered":"AMD Closes \u201cAsset Smart\u201d Transaction \u2013 Fulfills Vision to Create Two Leadership Companies Capable of Delivering Transformative Innovation and Impact to the Global Technology Industry"},"content":{"rendered":"
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\u2014 AMD and Advanced Technology Investment Company form well-resourced U.S. based global semiconductor manufacturing services company \u2014<\/em><\/span><\/div>\n
\n\u00a0 \u00a0 \u00a0 \u00a0 <\/strong>\u2014 Strategic partner Mubadala Development Company increases stake in AMD \u2014<\/em><\/span><\/div>\n

Sydney, Australia \u2014 March 4, 2009 \u2014 <\/strong>AMD <\/strong>(NYSE: AMD) \u00a0announced it has closed its Asset Smart strategic transaction with the Advanced Technology Investment Company (ATIC) and Mubadala Development Company \u00a0of Abu Dhabi, setting the stage for the formal launch of the world\u2019s only U.S.-headquartered semiconductor foundry, temporarily called \u201cThe Foundry Company.\u201d \u00a0The Foundry Company is expected to formally launch and disclose its new name and visual identity later this week.<\/span><\/p>\n

AMD received US$700 million from ATIC for a portion of its ownership interests in The Foundry Company, The Foundry Company assumed responsibility for the repayment of approximately US$1.1 billion of associated AMD debt, and Mubadala paid AMD approximately US$125 million Reflects purchase price of $2.15 per share, which is the average of the closing prices of AMD common stock on the NYSE for the 20 trading days immediately prior to and including December 12, 2008. for 58 million newly issued AMD shares and warrants for 35 million additional shares.<\/span><\/p>\n

\u201cWith the close of this historic transaction, AMD and its committed partners have conceived two strong industry-leading companies capable of charting future courses that will dramatically improve the technology industry,\u201d said Dirk Meyer, president and chief executive officer of AMD. \u00a0“Our \u2018Asset Smart\u2019 strategy is about more than providing AMD with long term access to world-class, leading-edge semiconductor manufacturing that is foundational to our growth strategy. \u00a0It is about transforming the industry. \u00a0ATIC is the ideal partner to help scale AMD\u2019s forty years of semiconductor expertise, and provide a manufacturing foundation for the entire industry to produce the next generation of semiconductor innovations. \u00a0<\/span><\/p>\n

\u201cWe are proud of our vision, the opportunities we are creating around the world, and fortunate to have astute, committed strategic partners in Mubadala and ATIC, and we are delighted to welcome Mubadala to the board of AMD. We are confident that this strategy and partnership will enable AMD to achieve long-term success based on designing and integrating industry-leading computing and graphics technologies that deliver compelling user experiences.\u201d<\/span><\/p>\n

Final Asset Smart Transaction Terms Overview<\/strong><\/span><\/p>\n

Upon closing, AMD:<\/strong> <\/span><\/p>\n