AMD completes the acquisition of Sirens

2022-04-24 0 By

On the evening of February 14, AMD (NASDAQ: AMD) announced the completion of its acquisition of Xilinx in an all-stock transaction.AMD expects the acquisition to be accretive to non-GAAP margins, non-GAAP earnings per share and free cash flow in the first year.Dr. Lisa Su, PRESIDENT and CEO of AMD, said:”Silas’s leading FPgas, adaptive soCs, artificial intelligence engines and software expertise will empower AMD to deliver an exceptional portfolio of high performance and adaptive computing solutions and help us capture a larger share of the estimated $135 billion cloud, edge computing and smart devices market opportunity.”Victor Peng, former CEO of Selynx, will join AMD as president of the newly formed Adaptive and Embedded Computing Group (AECG).AECG remains focused on driving leading FPGA, adaptive SoC and software roadmap.With the establishment of the new business unit, the company will further expand its scale and be able to offer a range of extended solutions including AMD CPUS and Gpus.Upon completion of the acquisition, Silas shareholders will receive 1.7234 shares of AMD common stock for each Share of Silas common stock.Silas common stock will no longer be traded on the NASDAQ Stock Market.Prior to the results, Syrynx reported FY22Q2 revenue increased 22.1% year over year to $936 million;Gross profit increased 16.7% to $632 million;Net income rose 21 percent to $235 million.Shares of Silas were suspended, leaving its market cap at $48.415 billion.According to AMD’s fourth-quarter and full-year financial results for fiscal 2021, AMD’s fourth-quarter revenue was 4.826 billion DOLLARS, up 49% year on year;Net income was $974m, down 45 per cent from a year earlier.For fiscal 2021, AMD reported revenue of $16.434 billion, up 68% from $9.763 billion a year earlier.Operating profit was $3.648 billion, up 166% from $1.369 billion a year earlier;Net income was $3.162 billion, or $2.57 a share.Excluding certain one-time items (not according to GAAP), AMD reported adjusted net income of $3.435 billion and adjusted EPS of $2.79 in 2021.AMD shares were up 2.23% at $115.7 at press time, with a total market cap of about $138.915 billion.For more information, please download the 21 Finance APP