Advanced Micro Devices, Inc. (NYSE:AMD) and ATI Technologies Inc.
(TSX:ATY) (NASDAQ:ATYT) today announced that the Ontario Superior
Court of Justice has issued the final order approving the arrangement
under which all of ATI's outstanding common shares will be acquired by
an indirect wholly owned subsidiary of AMD. The proposed acquisition,
announced on July 24, 2006, is expected to be completed during the
week of October 23, subject to satisfaction or waiver of customary
closing conditions.
About AMD
Advanced Micro Devices (NYSE:AMD) is a leading global provider of
innovative microprocessor solutions for computing, communications and
consumer electronics markets. Founded in 1969, AMD is dedicated to
delivering superior computing solutions based on customer needs that
empower users worldwide. For more information visit www.amd.com.
About ATI
ATI Technologies Inc. is a world leader in the design and
manufacture of innovative 3D graphics, PC platform technologies and
digital media silicon solutions. An industry pioneer since 1985, ATI
is the world's foremost graphics processor unit (GPU) provider and is
dedicated to deliver leading-edge performance solutions for the full
range of PC and Mac desktop and notebook platforms, workstation,
set-top and digital television, game console and handheld device
markets. With fiscal 2005 revenues of US $2.2 billion, ATI has
approximately 4,000 employees in the Americas, Europe and Asia.
Safe Harbor Statement
This release contains forward-looking statements, which are made
pursuant to the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements are commonly
identified by words such as "proposed," "may," "expected," and other
terms with similar meaning. Forward-looking statements are based on
current beliefs, assumptions and expectations and speak only as of the
date of this release and involve risks and uncertainties that could
cause actual results of AMD, ATI or the combined company to differ
materially from current expectations. The material factors and
assumptions that could cause actual results to differ materially from
current expectations include, without limitation, the following:
revenue, cost savings, growth prospects and any or other synergies
expected from the proposed transaction may not be fully realized or
may take longer to realize than expected; the transaction may not be
accretive as expected; AMD or the combined company may not achieve any
year-end or longer-term targeted gross margins, research and
development expenses, selling, general or administrative expenses,
operating margins, capital structure or debt-to-capitalization ratio;
AMD or the combined company may require additional capital and may not
be able to raise sufficient capital, on favorable terms or at all;
delays associated with integrating the companies, including employees
and operations; the possible impairment of goodwill and other
long-lived assets resulting from the transaction and the resulting
impact on the combined company's assets and earnings; unexpected
variations in market growth and demand for the combined company's
products and technologies; rapid and frequent technology changes in
the computing and consumer electronics segments; potential constraints
on the ability to develop, launch and ramp new products on a timely
basis; research and development costs associated with the development
of new products and other factors that may affect future results of
the combined company described in the section entitled "Risk Factors"
in the management information circular that was mailed to ATI's
shareholders and in AMD and ATI's filings with the U.S. Securities and
Exchange Commission ("SEC") that are available on the SEC's web site
located at http://www.sec.gov, including the section entitled "Risk
Factors" in AMD's Form 10-Q for the fiscal quarter ended July 2, 2006
and the section entitled "Risks and Uncertainties" in Exhibit 1 to
ATI's Form 40-F for the fiscal year ended August 31, 2005. Please see
Item 3.12 "Narrative Description of the Business - Risks and
Uncertainties" in ATI's 2005 Annual Information Form and the Risks and
Uncertainties section of ATI's annual MD&A on page 30 of ATI's 2005
Annual report filed on the SEDAR website maintained by the Canadian
Securities Administrators at http://www.sedar.com. Readers are
strongly urged to read the full cautionary statements contained in
those materials. We assume no obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or any other reason.
