Qualcomm, the San Diego wireless chip maker, said Jan. 20 it acquired some handheld graphics and multimedia assets it was previously buying from AMD for $65 million.
The deal did not disclose the number of AMD employees joining Qualcomm. On Jan. 19, Sunnyvale-based AMD announced it would be cutting 1,100 jobs, or 9 percent of its global work force, and reducing existing workers’ pay as the company tries to stay competitive.
Qualcomm said the transaction will reduce fiscal 2009 pro forma earnings by about 2 cents per share, but will add to the earnings by the second half of 2010.
, Mike Allen
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