AMD has received approvals to buy Xilinx from all the necessary authorities and expects to close the deal on or about Valentine’s Day, Feb. 14.
The company said early Thursday that “all conditions to the transaction closing have been satisfied” except customary closing conditions.
The deal to buy Xilinx for $35 billion in stock was first announced 16 months ago on Oct. 27, 2020. One of the major approvals came from China last month. China had set a condition that AMD continue selling its products to Chinese companies without discrimination and not force tie-in sales for multiple product sets.
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The deal brings together industry chip leaders with complementary product sets and customers. They will combine CPUs, GPUs, FPGAs, Adaptive SoCs and software to support cloud, edge and intelligent end devices, AMD said.
On Feb. 1, AMD reported revenue for all of $16.4 billion for all of 2021. AMD’s fourth quarter revenue was $4.83 billion, a 49% increase over a year earlier. It said first quarter 2022 revenue should hit $5 billion.
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Xilinx had reported third quarter earnings in January, up 26% over the prior year and reaching $1 billion.
AMD shares were trading at 132.85 before the market opened on Thursday, up slightly over the past month during an otherwise volatile few weeks for technology stocks amid worries over inflation and its impact on the overall economy. At market close on Thursday, shares had dropped by 5% to 125.77.