AMD acquires Pensando for $1.9 billion
AMD has entered into a definitive agreement to acquire Pensando for approximately USD 1.9 billion before working capital and other adjustments.
Pensando’s distributed services platform includes a high-performance, fully programmable packet processor and comprehensive software stack that accelerate networking, security, storage and other services for cloud, enterprise and edge applications.
“To build a leading-edge data center with the best performance, security, flexibility and lowest total cost of ownership requires a wide range of compute engines,” says Dr. Lisa Su, AMD chair and CEO, in a press release. “All major cloud and OEM customers have adopted EPYC processors to power their data center offerings. Today, with our acquisition of Pensando, we add a leading distributed services platform to our high-performance CPU, GPU, FPGA and adaptive SoC portfolio.”
Pensando’s products are already deployed at scale across cloud and enterprise customers, including Goldman Sachs, IBM Cloud, Microsoft Azure and Oracle Cloud.
“We are excited to join the AMD family. Our shared cultures of innovation, excellence and relentless focus on partners and customers make this an ideal combination. Together, we have the talent and tools to deliver on our customers’ vision for the future of computing,” adds Pensando CEO Prem Jain. “Joining together with AMD will help accelerate growth in our core business and enable us to pursue a much larger customer base across more markets.”
CEO Prem Jain and the Pensando team will join AMD as part of the Data Center Solutions Group, led by AMD Senior Vice President and General Manager Forrest Norrod. Pensando will remain focused on executing their product and technology roadmaps, now with additional scale to accelerate their business and address growing market opportunities across a broader number of customers. The acquisition is expected to close in the second quarter of 2022.