AMD admits it overpaid for ATI

[FatBastard]

Full Story ...

AMD admits it overpaid for ATI, will take charge to reduce goodwill estimate
Jordan Robertson, The Associated Press
December 12, 2007 - 5:01 p.m.

SAN JOSE, Calif. - Advanced Micro Devices Inc. acknowledged Wednesday it overpaid in its US$5.6 billion acquisition of Canadian graphics chip maker ATI Technologies Inc., adding to the deepening financial woes of the slumping semiconductor company.

Sunnyvale-based AMD, the world's No. 2 maker of microprocessors behind Intel Corp., said in a filing with the U.S. Securities and Exchange Commission it will have to write down the value of the goodwill estimate it attached to Markham, Ont.-based ATI when it bought the company in October 2006.

AMD said it does not currently know how big the charge will be.

[Jammrock]

And that was a shock to ... who?

[Nowhere]

I think I've read somewhere that at the moment AMD is worth less than what they paid for ATI...

[dZeus]

fitting writeup on AMD's current situation

[Claymonkey]

Funny... during college Ati left a bad taste in my mouth after buying a Xpert98 in college and is one of the forces that drove me towards matrox. They didn't win me back until the 8500. I bought AMD's because I couldn't afford Intel chips and then felt justified when the Athlon came out and I got a 600Mhz and then a 700Mhz (damn you KA100 boards and your caps).

Now I'm using a Nvidia video card and have used C2D's in the last few computers I've helped friends build.... sigh

Lets hope they get out of this.

[Kooldino]

I think I've read somewhere that at the moment AMD is worth less than what they paid for ATI...

Ouch.