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Advanced Micro Devices to acquire ATI

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New York—Advanced Micro Devices Monday announced it will acquire ATI in a deal valued at about $5.4 billion. The merger will bring together AMD's microprocessor technology with ATI's strengths in graphics, chipsets and consumer electronics.

AMD plans to acquire all outstanding common shares of ATI for a combination of $4.2 billion in cash and 57 million shares of AMD common stock. The deal is expected to be completed in the fourth quarter.

ATI President-CEO Dave Orton will serve as exec VP of the ATI business division. In addition, two ATI directors will join AMD's board of directors upon completion of the deal.

—Carol Krol

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