Feeds

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

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

Intelligent flash storage arrays

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. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.