Semiconductor company Advanced Micro Devices (AMD) has agreed to purchase rival Xilinx for $35 billion.
“Our acquisition of Xilinx marks the next leg in our journey to establish AMD as the industry’s high performance computing leader and partner of choice for the largest and most important technology companies in the world,” said AMD CEO and President Lisa Su.
Under terms of the all-stock deal, Xilinx investors will receive 1.7234 AMD shares for each Xilinx stock. The merger values Xilinx at about $143 a share.
The agreement, expected to close by the end of 2021, is subject to approval from shareholders and regulators.