AMD to Raise Cash by Selling 58-acre Campus and Leasing Back Space


AMD to Raise Cash by Selling 58-acre Campus and Leasing Back Space

 

AMD is not doing so good at the moment. In October, the company reported losses of US$157 million and a 10% drop in revenue. As a result, the company also said that it will layoff 15% of its work force to cut costs.

To help balance the account books, AMD is said to be planning on selling its massive 58-acre Lone Star campus in Austin, Texas. Such a sale would probably raise around US$200 million. AMD would then lease back the space, thereby liquidizing some of its real estate assets to add to its own cash reserves.

Such a move is not new. Creative Technologies did the same in 2008 when it sold its headquarters.

Source: Engadget

All News Categories


Obsessed with technology?
Subscribe to the latest tech news as well as exciting promotions from us and our partners!
By subscribing, you indicate that you have read & understood the SPH's Privacy Policy and PDPA Statement.