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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Night Writer who wrote (95133)	2/6/2002 5:50:37 PM
From: Night Writer	Respond to of 97611

AMD to buy designer of chips for portable devices SUNNYVALE, Calif., Feb 6 (Reuters) - Advanced Micro Devices Inc. <AMD.N> said on Wednesday it will acquire privately held Alchemy Semiconductor, which designs and markets low-power microprocessors, to enter the market for handheld electronics. Alchemy was founded by Rich Witek and Greg Hoeppner, who helped develop the Alpha and StrongARM processors while at Digital Equipment Corporation, which Compaq Computer Corp. <CPQ.N> acquired in 1998. Both Witek and Hoeppner would join AMD's newly established Personal Connectivity Solutions business. The deal comes as a range of chip makers position themselves to serve next-generation portable electronics and mobile phones. Alchemy would give AMD access to a processor based on a MIPS architecture, while Intel Corp. <INTC.O>, the world's largest chip maker, is pushing XScale, derived from competing architecture known as ARM. AMD said it expects to complete the acquisition in the first quarter. Merrill Lynch semiconductor analyst Joseph Osha said the purchase is an opportunity for AMD to acquire potentially promising technology at a time when acquisition prices are low. "It was an interesting company," Osha said, "and a lot of interesting companies are going real cheap." ((Daniel Sorid, New York Newsdesk, 646-223-6187)) REUTERS