AMD To Snap Pensando For $1.9B - Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices Inc AMD has agreed to acquire Pensando for $1.9 billion.
Pensando distributed services platform included a high-performance, fully programmable packet processor and comprehensive software stack that accelerate networking, security, storage, and other services for cloud, enterprise, and edge applications.
AMD Chair and CEO Dr. Lisa Su said, "Today, with our acquisition of Pensando, we add a leading distributed services platform to our high-performance CPU, GPU, FPGA, and adaptive SoC portfolio. The Pensando team brings world-class expertise and a proven track record of innovation at the chip, software, and platform level, which expands our ability to offer leadership solutions for our cloud, enterprise, and edge customers."
Pensando's products are already deployed at scale across cloud and enterprise customers, including Goldman Sachs Group Inc GS, International Business Machines Corp IBM, IBM Cloud, Microsoft Corp MSFT Microsoft Azure, and Oracle Corp ORCL Oracle Cloud.
AMD held $3.6 billion in cash and equivalents as of December 25.
Price Action: AMD shares traded higher by 0.52% at $108.75 in the premarket on the last check Monday.