AMD, Business, Companies, VR World

AMD to split into two on 1st Day of CeBIT 2009

According to AMD’s website, the shareholder’s vote that failed spectacularly last week – finally passed with flying colors. As it stands, AMD will issue 58 million shares to Mubadala Development Company PJSC (also known as Mubadala Abu Dhabi) and warrants for 35 million stocks for MAD’s “technology subsidiary” ATIC.

Even though the new company is constantly referred to as The Foundry Company, official website is located at a different address and it named the company as AMD Global Foundry.

The separation date between AMD and MAD is set for March 2, 2009 – just by accident, first day of CeBIT in Hangover, Germany (press day, to be more exact). On March 3, 2009 you can expect to see a press release with more details about this new company.

Also, AMD’s treasure will become richer by billion and some small change in US, helping the mother company to cope with returning the credit taken for purchase of ATI Technologies (given by the number of goodwill write-offs, I would say that credit was taken to make some folk very, very rich). Good luck to AMD and MAD AMD. They’re going to need it.

P.S. Yes, I am aware that somebody cybersquatted The Foundry Company domain. AMD obviously didn’t had the cash to buy the domain before the news about The Foundry Company became official.