AMD to acquire server builder ZT Systems for $4.9 billion in cash and stock

Quick Summary:

:AMD said on Monday it plans to acquire server maker ZT Systems for $4.9 billion as the company seeks to expand its portfolio of artificial intelligence chips and hardware and battle Nvidia.

AMD plans to pay for 75 per cent of the ZT Systems acquisition with cash and the remainder in stock.The company had $5.

"No doubt this gives them much stronger lock-in with their data center customers, and because of that,(the acquisition) is a net positive for their long-term revenue strategy," said Creative Strategies CEO Ben Bajarin.

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Category: EconomyBusiness

Markets: Singapore

Topics: Systems Plans Server Deal Billion Acquire Company Chips Manufacturing Data Revenue

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-19 @ 18:05:15 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 661 words

Reading Time: 4 minutes read

Sentences: 30 lines

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Copyright Owner: © Channel News Asia

News ID: 22145842

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