ATI to be acquired by ADM for US$5.4 billion

Canada's Top 5 R&D performer will be moving into US hands with the proposed US$5.4-billion acquisition of ATI Technologies Inc, Markham ON, by Advanced Micro Devices (AMD), Sunnyvale CA. ATI is a world leading designer and manufacturer of graphics, chipsets and consumer electronics. It has achieved double digit annual R&D spending increases over the past several years, jumping from $171.1 million in 1999 to $451.4 million in 2005, an increase of 278.6%. When the cash and stock transaction closes in the 4th quarter of this year, ATI president and CEO Joe Orton will become executive VP of AMD's ATI division. AMD has committed to maintaining ATI's sales, design and manufacturing operations in Markham….