Advanced Micro Devices (Nasdaq: AMD) has closed its purchase of Xilinx in an all-stock deal worth approximately $35 billion, creating a new high-performance and adaptive computing company with a combined portfolio of field programmable gate arrays, central processing units, adaptive SoCs and graphic processing units.
The acquisition of Xilinx will enable AMD to “capture a larger share of the approximately $135 billion market opportunity we see across cloud, edge and intelligent devices,” AMD President and CEO Lisa Su said in a statement published Monday.
Victor Peng, former CEO of Xilinx, will serve as president of the newly established adaptive and embedded computing group at AMD.
“The rapid expansion of connected devices and data-intensive applications with embedded AI are driving the growing demand for highly efficient and adaptive high-performance computing solutions,” said Peng. “Bringing AMD and Xilinx together will accelerate our ability to define this new era of computing by providing the most comprehensive portfolio of adaptive computing platforms capable of powering a wide range of intelligent applications.”
In October 2020, AMD struck an all-stock deal for Xilinx to expand its data center business and portfolio of technology products and strengthen its position in the HPC market.
AMD also announced the appointment of Su as chair of the board and John Caldwell, a board member since 2006 and board chair since 2016, as lead independent director.
Former Xilinx board members Jon Olson and Elizabeth Vanderslice will now serve on AMD’s board following the completion of the transaction.
Olson has over three decades of experience as a senior finance executive at several semiconductor companies. He joined the Xilinx board in May 2020 after serving as the technology company’s chief financial officer from June 2005 to July 2016. Olson also serves on the boards of Kulicke & Soffa and Rocket Lab USA.
Vanderslice, who started serving on the Xilinx board in 2000, has banking, technology and management experience. She has been a partner at Trewstar Corporate Board Services since 2019 and currently serves as a trustee of Boston College. She previously held leadership roles at Lycos and Wired Digital.