Feeds

AMD sells 8.1 per cent stake to Abu Dhabi firm

Mubadala chips in

Reducing security risks from open source software

Chip giant AMD today confirmed that it had received a significant cash injection from an investment outfit based in Abu Dhabi, the capital of the United Arab Emirates.

A wholly-owned subsidiary of Mubadala Development Company coughed up a considerable stack of money said to be around the $622m mark.

Mubadala was given 49 million newly-issued shares of AMD worth $12.7 per share. After paying Mubadala about $14.6m in expenses, AMD received $608m.

The chip maker, which has been battered by downward-spiraling financial results for the past few quarters, said it planned to use the net proceeds from the sale of the shares of common stock for what it described as "general corporate purposes".

It added that the non-controlling, minority deal from Mubadala was not subject to review by the Committee on Foreign Investment in the US, and that the investment firm would have no representation on the AMD board.

Speaking about the tie-up, AMD chairman and CEO Hector Ruiz said in a statement: "We proudly welcome Mubadala, a world-class investor, to the AMD shareholder family.

"This investment strengthens AMD's ability to deliver customer-centric innovation and choice to the marketplace, creating greater value for all of our shareholders."

In October, AMD posted a $226m loss in the third quarter, replacing a $121m profit in the same period a year ago. ®

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.