AMD Sells Off Handheld Business

Sunnyvale-based AMD has sold off its handheld business to Qualcomm, Qualcomm said today, in a deal worth $65M in cash. According to Qualcomm, it acquired certain graphics and multimedia technology assets, intellectual property, and resources that were formerly the basis of AMD's handheld business. Qualcomm also said it would extend offers of employment to "various" design and development teams at AMD. AMD said the sale would allow it to better focus on its core business, particularly in x86 computing and high-end graphics.