ATIC AWARDED GLOBAL M&A DEAL OF THE YEAR
ATIC acquisition of AMD manufacturing facilities and Mubadala investment in AMD recognized for excellence in deal making by international association
The Advanced Technology Investment Company (ATIC) was awarded GLOBAL M&A DEAL of the YEAR (for transactions over 1 billion USD) at a ceremony in New York hosted by the Global Mergers and Acquisitions Network. The award recognizes ATIC’s 2008 acquisition of Advanced Micro Devices’ (AMD) manufacturing facilities and the creation of a leading-edge semiconductor manufacturing company, GLOBALFOUNDRIES. The award also recognized as part of the transaction Mubadala Development Company’s (Mubadala) investment increase in AMD to a 19.3 percent stake on a fully diluted basis.
“It is an honor to be recognized for the tremendous efforts of ATIC, Mubadala, and AMD, which together created the world’s first truly global semiconductor foundry,” said Ibrahim Ajami, Chief Executive Officer of ATIC. “The closing of this deal was a significant milestone in ATIC’s creation and the ongoing diversification of the Abu Dhabi economy toward a new, high-technology and knowledge-based future.
Leaders and top dealmakers from all across the globe gathered in New York City in late February to attend the gala ceremony and receive awards for professionalism in recent mergers and acquisitions. Forty-three awards from a range of categories were presented. Daniel Durn, Executive Director of ATIC Acquisitions and Portfolio Management, received the award on behalf of ATIC and Mubadala.
As part of the deal, ATIC committed to $3.6 billion and up to $6.0 billion over the next five years to fund the expansion of Global Foundries’ chip-making capacity beyond the manufacturing facilities initially contributed by AMD. These funds will be used to expand its facility in Germany and create a new state-of-the-art facility in New York that, once completed, will be the only independently-managed semiconductor manufacturing foundry in the United States directly creating 1,400 jobs. Mubadala increased its stake in AMD to 19.3 percent and has rights to a seat on the AMD board of directors.