It's Official: AMD & ATI Deal Announced

All of the rumors that have been circulating these past few weeks seem to have been true.  The official announcement of a merger of AMD and ATI is posted on both companies' respective websites. Major news here folks...

"On July 24, 2006, AMD and ATI announced a plan to join forces, in a transaction that will combine AMD's technology leadership in microprocessors with ATI's strengths in graphics, chipsets and consumer electronics. The result is a processing powerhouse: a new competitor, better equipped to drive growth, innovation and choice for its customers in commercial and mobile computing segments and in rapidly-growing consumer electronics segments. The transaction, valued at US $5.4 billion, is expected to close in Q4 2006 subject to approval by ATI shareholders, court approval, regulatory approvals and other customary closing conditions."

Tags:  AMD, ATI, Deal, CIA, EA, AM