AMD has bought rival chip maker Xilinx in a $35 billion all-stock deal.
Both firms expect the deal to generate $300 million in cost cuts. It will also create a combined company with about 13,000 engineers.
AMD’s CEO Lisa Su will serve as the new CEO of the combined company, while Xilinx’s CEO Victor Peng will continue to lead Xilinx’s operations – being responsible for Xinlinx’s business and growth initiatives.
Both companies expect the deal to close at the end of 2021.
Su said that Xilinx is very strong in some markets, and AMD believes that the deal would enable it “to accelerate some of the AMD products into those markets”.
