Product category: Microprocessors, Microcontrollers and DSPs
News Release from: National Semiconductor
Edited by the Electronicstalk Editorial Team on 12 August 2003
AMD to take over information appliance
business
National Semiconductor has signed a definitive agreement to sell its Information Appliance (IA) business unit to Advanced Micro Devices.
National Semiconductor has signed a definitive agreement to sell its Information Appliance (IA) business unit, which consists primarily of the Geode family of microprocessor products, to Advanced Micro Devices Financial terms of the sale, which is expected to close by the end of August, were not disclosed
This article was originally published on Electronicstalk on 5 Jan 2001 at 8.00am (UK)
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In February 2003, National announced its intention to sell the Information Appliance business in order to streamline National's cost structure and focus investments on higher-margin analogue technologies.
The Information Appliance business unit planned to be sold to AMD currently accounts for less than 5% of National's total annual revenue.
Pursuant to the terms of the agreement, AMD would acquire certain intellectual property and assets of the IA business unit and approximately 132 employees that currently support the IA business unit.
"This deal makes good sense for both companies", said Brian L Halla, National's Chairman, President and CEO.
"This allows National to focus on growing our core analogue business and improving our returns.
At the same time, AMD will be able to leverage the Geode technology through their existing manufacturing and marketing infrastructure.
We intend to work with AMD to ensure a rapid and successful transition for our customers".
"We look forward to warmly welcoming the IA team to AMD", said Billy Edwards, Vice President and General Manager, Personal Connectivity Solutions Group, AMD.
"The addition of the IA team will accelerate our ability to deliver value to our existing customers and in new markets".
A portion of the total National employees who currently support the Information Appliance business will not be transferring to AMD, primarily due to marketing and engineering infrastructure that AMD already has in place.
As a result, National expects to lay off approximately 65 individuals in connection with this transaction and record a charge for severances in the current quarter, which ends 24th August 2003.
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