Qualcomm To Acquire Part Of AMD’s Handheld Business

Qualcomm (NSDQ: QCOM) said it will acquire certain assets from AMD’s handheld business, including graphics and multimedia assets, for $65 million in cash. The purchase, it said, will help Qualcomm deliver more advanced products for a next-generation mobile user experiences in the areas of 2D and 3D graphics, audio/video, display, and architecture. The two companies signed and closed a binding agreement yesterday, and already received required regulatory approvals. Qualcomm has extended offers of employment to various design and development teams from AMD’s handheld business. Qualcomm expects the acquisition to be about 2 cents dilutive to pro forma earnings in 2009 and accretive by the second half of 2010. Release.