AMD to sell communications unit for $375m
Published: 22 May 2000 16:11 BST
AMD, the chief rival to Intel in the computer semiconductor market, said in a statement it would retain a 10 percent stake in the unit and will have a warrant to buy about another 10 percent.
AMD also will provide certain services to the new company under a multi-year contract, it said.
The unit produces integrated circuits for telecommunications and Internet access applications. Its 1999 revenues were $168m and first-quarter 2000 revenues were $59.5m.
Based in Austin, Texas, it has about 160 employees.
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