AMD has a plan to acquire the chip company Xilinx: Report

 AMD released its third-quarter financial report, and its revenue reached 4.31 billion US dollars, an increase of 54% year on year. In a conference, AMD CEO Su Zifeng said that the plan to acquire the chip company Xilinx for $35 billion has made “good progress” in terms of supervision. This acquisition transaction is expected to be completed before the end of the year.

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At present, this acquisition has obtained antitrust licenses from the United States and the European Union. After the news was announced, Xilinx stock prices rose 1.4% after the market on Tuesday. The report stated that there is news that this transaction has made good progress in the approval process in China. 

Moreover, the chip company Xilinx mainly designs, develops, and sells FPGA chips, including advanced integrated circuits, software design tools, etc. After the completion of the acquisition, Xilinx’s current CEO and president Victor Peng will join AMD as the president, responsible for Xilinx’s business and strategic development planning.

Furthermore,  AMD announced its plan to acquire Xilinx in October. After the acquisition, AMD will own 74% of the company. The shareholders of the two companies agreed to the transaction in 2021.