Feeds

Cash-strapped AMD drills for green gold in Lone Star State

Chip biz flogs campus for $164m, but wants to stay put

The essential guide to IT transformation

Processor bakery AMD will sell off and lease back its offices in Austin, Texas, to raise $164m in much-needed cash.

The chipmaker will sign a 12-year lease on the "Lone Star Campus", with an optional extension clause if the firm decides to stay on at the location.

It's not the first time that AMD has shifted some real estate to get its hands on some readies: the company has leased its headquarters in Sunnyvale, California, since 1998 when it did a similar deal on the property, and just five years ago it sold and leased back its major site in Ontario, Canada.

AMD said it had also put its "largely unoccupied" Building 3 property in Austin up for sale. Any workers still in the location will be "consolidated at other sites".

“As we reset and restructure AMD for long-term success, we are taking a number of steps designed to optimise our business and monetise assets,” Devinder Kumar, chief financial officer of AMD, said in a canned statement. “The sale of our Austin campus will unlock a significant amount of capital."

Kumar and chief exec Rory Read said earlier this year that they hoped to return AMD to profitability in the second half of this year, with new APU and graphics products helping as well as restructuring and cost-cutting. ®

5 things you didn’t know about cloud backup

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.