Qualcomm Buys AMD Handheld Assets

San Diego-based wireless products firm Qualcomm (NYSE:QCOM) says that it has purchased graphics and multimedia technology assets from AMD (NYSE:AMD) for total cash consideration of $65 million. The assets were previously part of Sunnyvale, CA-based AMD’s handheld business, and Qualcomm says it plans to extend offers to some AMD employees who have been part of that business.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.

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