Thu Feb 7,12:24 AM ET
AMD to Buy Designer of Chips for Portable Devices
SUNNYVALE, Calif. (Reuters) - Advanced Micro Devices said Wednesday it will acquire privately held Alchemy Semiconductor, which designs and markets low-power microprocessors, to enter the market for handheld electronics. Alchemy was founded by Rich Witek and Greg Hoeppner, who helped develop the Alpha and StrongARM processors while at Digital Equipment Corporation, which Compaq Computer acquired in 1998. Both Witek and Hoeppner would join AMD's newly established Personal Connectivity Solutions business.
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