Advanced Micro Devices Inc. (NYSE: AMD) today announced that it will set up an R&D center in Tel Aviv, based on heterogeneous computing and 3D graphics developer Graphic Remedy, which it acquired six months ago. According to IVC, the acquisition was made at a value of $5 million.
AMD says that the Israeli R&D center will develop next-generation parallel computing platforms.
While not as large as Intel Corporation (Nasdaq: INTC), AMD has a 10% share of the global PC processor market and it has strong R&D capability.
AMD VP software development Ben Bar-Haim said, "The creation of this new R&D center in Israel and the talent we already have on site greatly contributes to AMD worldwide innovation ability. With this recent investment in Israel we are also continuing to promote and enhance the developers’ heterogeneous ecosystem for the AMD Fusion accelerated processing unit."
Graphic Remedy was founded by Avi Shapira and Yaki Tebeka.
Published by Globes [online], Israel business news - www.globes-online.com - on June 1, 2011
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