AMD completes $4.9B acquisition of ZT Systems
Seeking Alpha News (Mon, 31-Mar 10:04 AM)
- AMD (NASDAQ:AMD) said on Monday that it has completed its $4.9B acquisition of data center infrastructure provider ZT Systems.
- The deal, announced in August 2024, will help AMD expand data center and AI systems capabilities, the company said at the time. AMD added that the Secaucus, N.J.-based ZT Systems' experience in designing and optimizing cloud computing solutions would help cloud and enterprise customers accelerate the deployment of AMD-powered AI infrastructure at scale.
- As part of the deal, AMD said it would seek a strategic partner to acquire ZT Systems' U.S.-based data center infrastructure manufacturing business.
- Led by Chief Executive Dr. Lisa Su, AMD expects the deal to be accretive on an adjusted basis by the end of the year. ZT will join AMD's Data Center Solutions business unit.
- AMD shares fell 1.8% in early trading on Monday.
