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Regulations delay AMD’s deadline to buy chip firm till next year

Regulations delay AMD’s deadline to buy chip firm till next year
Photo Credit: Pixabay
31 Dec, 2021
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Advanced Micro Devices (AMD) said it has pushed back its deadline to buy semiconductor company Xilinx Inc., slated for closure by the end of this year, due to some regulatory headwinds. 

The acquisition timeline has now been postponed to the first quarter of 2022. However, the company added no further reforms to its earlier buyout plans. 

Last year, on October 27, AMD inked a pact to buy Xilinx, valued at $35 billion. AMD said it would be revving up its products as well as consumers across markets post acquisition. 

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“We will continue making good progress on the required regulatory approvals to close our transaction. While we had previously expected that we would secure all approvals by the end of 2021, we have not yet completed the process and we now expect the transaction to close in the first quarter of 2022,” AMD and Xilinx said in a joint statement.

The announcement comes a day after Intel announced closure of the first phase of its pact to sell solid-state drive (SSD) business to SK hynix. The deal includes Intel’s NAND SSD, component and wafer businesses, along with the company’s NAND memory manufacturing factory in China’s Dalian.

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Read more: Intel makes exit from flash memory, storage biz