World News | AMD Buying Xilinx in All-stock Deal Valued at USD 35B

San Jose, Oct 27 (AP) AMD is buying Xilinx for USD 35 billion in an all-stock deal that will combine the two Silicon Valley chip makers.

The deal announced Tuesday puts AMD in a place it wants to be; competing more fiercely with Intel.

Also Read | India, US Working Closely in Defence, Foreign Policy Has Larger Resonance, Says EAM S Jaishankar.

Xilinx stockholders will receive 1.7234 shares of AMD stock for each Xilinx share they hold, or approximately USD 143 per share of Xilinx stock.

AMD stockholders will own about 74 per cent of the combined company, with Xilinx stockholders owning approximately 26 per cent.

Also Read | Imran Khan Says 'Pakistan to Strengthen Ties With Afghanistan'.

The transaction will give AMD a strong portfolio of high performance processor technologies, combining CPUs, GPUs, FPGAs, Adaptive SoCs and deep software expertise to enable leadership computing platforms for cloud, edge and end devices.

The deal is expected to close by the end of next year. It still needs approval from shareholders of both companies.(AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)