ATI shareholders say yes to AMD

Advanced Micro Devices' AMD proposed acquisition of graphics chip maker ATI Technologies has received the approval of ATI's shareholders, the companies announced Friday.

AMD intends to buy ATI for $5.4 billion in order to take advantage of ATI's graphics and chipset prowess. The idea is to compete with Intel's ability to present PC companies with a complete product that includes a processor, chipset and graphics technology. Eventually, AMD also plans to integrate graphics technology directly into the processor, it has said.

AMD DEAL

Final approval of the deal is required during a court hearing next week, and the transaction is expected to close by the end of October. ATI is based in Markham, Ontario, and the Canadian government also gave its seal of approval to the deal Friday. Dunoo whether AMD would change the presest company name