Semiconductor designer AMD announced its decision to buy Xilinx for $35 billion in an all-stock deal. This deal comes on the back of AMD’s fierce battle with Intel Corp in the data center chip market.
This deal combining the two Silicon Valley chip makers will create a company consisting of 13,000 engineers and completely outsourced manufacturing strategy which heavily depends on Taiwan Semiconductor Manufacturing Co. Ltd.
AMD stockholders will own about 74% of the combined company and Xilinx stockholders will own the remaining 26%.
To Read More: Reuters