News
 

Bookmark and Share

(2) 

Leading graphics company ATI Technologies is preparing to acquire a business. While the company does not comment much on the matter, it indicates that there is an initiative to buy a company involved into consumer electronics and related spaces.

“We’ve been on a pace of about one (deal) a year and I think it’s about time for us to now look at a bigger step, but nothing is in the funnel… You don't want to go into it lightly. It can destroy companies. But the digital consumer is the area and there's a breadth of proximity markets ... that are interesting to us,” ATI’s CEO and President David Orton told Reuters after the company’s annual meeting on Tuesday.

The exec declined to reveal how much the company plans to spend on its potential forthcoming acquisition, but said the newly appointed CFO – Patrick Crowley – can help the company to evaluate possible deals.

“It’s not so much a financial question as it is an alignment question from my standpoint. If you find the right alignment and you have a common view of where you can go with this, the market in a sense will define the value,” Mr. Orton said.

The company’s latest major acquisition was chip develop ArtX in 2001 for $400 million, from where Mr. Orton came to Markham, Ontario-based ATI.

Currently the company has $620 million in cash.

Discussion

Comments currently: 2
Discussion started: 01/26/05 03:58:05 PM
Latest comment: 01/27/05 03:39:28 AM

Add your Comment




Related news

Latest News

Monday, July 21, 2014

12:56 pm | Microsoft to Fire 18,000 Employees to Boost Efficiency. Microsoft to Perform Massive Job Cut Ever Following Acquisition of Nokia

Tuesday, July 15, 2014

6:11 am | Apple Teams Up with IBM to Make iPhone and iPad Ultimate Tools for Businesses and Enterprises. IBM to Sell Business-Optimized iPhone and iPad Devices

Monday, July 14, 2014

6:01 am | IBM to Invest $3 Billion In Research of Next-Gen Chips, Process Technologies. IBM to Fund Development of 7nm and Below Process Technologies, Help to Create Post-Silicon Future

5:58 am | Intel Postpones Launch of High-End “Broadwell-K” Processors to July – September, 2015. High-End Core i “Broadwell” Processors Scheduled to Arrive in Q3 2015

5:50 am | Intel Delays Introduction of Core M “Broadwell” Processors Further. Low-Power Broadwell Chips Due in Late 2014