This was originally posted at ZDNet's Between the Lines.
Qualcomm on Tuesday said it has acquired "certain graphics and multimedia technology assets" from Advanced Micro Devices' handheld business.
The acquisition was only for $65 million, so we're not talking a huge deal, but what used to constitute AMD's handheld business is off the chipmaker's books, as it focuses on its core PC and graphics semiconductor markets.
Qualcomm says it will take AMD's graphic assets and intellectual property, and integrate it with its system on a chip products. Qualcomm has offered jobs to the AMD design and development teams in the handheld business.
Qualcomm also added that the deal shaves 2 cents a share off of its fiscal 2009 earnings and will be accretive in the second calendar half of 2010.