Global semiconductor supplier Advanced Micro Devices has announced that it will acquire Alchemy Semiconductor, a privately-held Austin-based company that develops and markets high performance, low power microprocessors for personal connectivity devices such as personal digital assistants and portable and wired Internet access devices. Financial terms were not disclosed for the acquisition, which is expected to be completed this quarter. AMD has established the Personal Connectivity Solutions business unit around Alchemy, which is currently located in Exchange Park at 7800 Shoal Creek Blvd. in Central Austin. AMD spokesman Drew Prairie says that AMD may need to expand Alchemy's offices to accommodate its new business venture. Prairie says the "plan is to actually have the group based in Northwest Austin." "The market for Internet access devices and gateways is one of our industry's great growth opportunities," said Hector Ruiz, president and COO of AMD. "Today our customers are looking to AMD for non-PC solutions in addition to PC solutions for Internet access." Ruiz continued, "By joining forces, AMD and Alchemy can supply the building blocks of connectivity - computing solutions from Alchemy coupled with wired and wireless technologies and flash memory devices from AMD."