AUSTIN - Advanced Micro Devices Inc. will sell and lease back its Austin campus in a deal the company expects will generate $164 million in cash.
The deal involves the company’s campus at 7171 Southwest Parkway, where most of AMD’s 1,900 employees in Austin work. The buyer is an affiliate of Spear Street Capital.
The proceeds from the deal are expected to be reflected in the company’s first quarter financial statements to be reported April 18. AMD will enter into a 12-year lease with an extension option to continue its operations on the campus, where much of its product engineering, sales, marketing and administration takes place.
The deal is expected to close March 26.
Read more the Austin American-Statesman.
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