AMD Moves Closer to Completing $5.4 Billion ATI Acquisition

Authored by dmw on October 13, 2006 - 1:15pm.

Sunnyvale, Calif. - Advanced Micro Devices (AMD), the computer chipmaker and main competitor to Intel, said on Friday that its proposed $5.4 billion acquisition of Canadian graphics chipmaker ATI Technologies has been approved by the Minister of Industry under the Investment Canada Act, satisfying one of its conditions for closing. To secure the approval, AMD promised to increase the number of employees in research and development activities in Canada, as well as the amount it spends in R&D in the country. The deal, first announced in July, also on Friday received approval from ATI's shareholders. It is expected to close the week of Oct. 23.
http://biz.yahoo.com/bw/061013/20061012006040.html?.v=1
http://www.amd.com