The acquisition of the new cloud services company Pensando, for a price of 1.9 billion dollars, was announced on Monday by the advanced semiconductor manufacturer Advanced Micro Devices (ADM), with the aim of strengthening its presence in the data center sector and taking advantage of the increased demand in the cloud and business services sectors.
AMD announced that the acquisition price does not include working capital or other adjustments, according to Reuters.
Pensando, which was founded in 2017 by a team of four former Cisco Systems engineers, has clients including Goldman Sachs and Microsoft’s Azure cloud unit.
The start-up produces a fully customizable processor, and has developed a software platform that helps its business and data center clients make the most of your cloud data centers, such as Amazon’s Amazon Web Services.
In cloud computing, the company’s customers can “order” as much computing power as needed in different parts of the world with a few clicks.The software takes care of redirecting the data to the correct terminals.
The deal, which will allow AMD to add the Pensando platform to its line of processors and semiconductors, is expected to close in the second quarter of this year.
Pensando CEO Prem Jain and the entire start-up team will join AMD’s Data Center Solutions Group.
Source: Capital
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