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Short Take: AMD completes sale of communications arm

Advanced Micro Devices today announced the completion of the sale of its communication products division for approximately $375 million in cash. AMD has retained a 10 percent ownership interest in the business and has a warrant to acquire approximately 10 percent more. The parties signed the definitive agreements for the sale of the division to Francisco Partners on May 21, 2000. The new entity will do business under the name of Legerity.

Advanced Micro Devices today announced the completion of the sale of its communication products division for approximately $375 million in cash. AMD has retained a 10 percent ownership interest in the business and has a warrant to acquire approximately 10 percent more. The parties signed the definitive agreements for the sale of the division to Francisco Partners on May 21, 2000. The new entity will do business under the name of Legerity.