Managing the setback will be a test for new Chief Executive Rory Read, appointed last August.
FORBES: AMD Q3 EPS, Revs Above Reduced Expectations; Shares Up 6.3%
The acquisition is the first major deal for AMD Chief Executive Rory Read, who joined the company in August.
FORBES: SeaMicro Investor, Intel Trade Barbs Following AMD Acquisition
Lenovo also has installed an old ibm hand, Rory Read, to the new position of president and chief operating officer.
"We thank Thomas for his many contributions to AMD and for serving as interim CEO in 2011, " said Rory Read, AMD president and CEO.
ENGADGET: AMD CFO Thomas Seifert calls it quits, Devinder Kumar takes his place on an interim basis
Lenovo President and Chief Operating Officer Rory Read recently told Forbes that he expects tablets to capture 15-18% of the PC market in about five years.
"The PC industry is going through a period of very significant change that is impacting both the ecosystem and AMD, " said Rory Read, AMD president and CEO.
"By acquiring SeaMicro, we are accelerating AMD's transformation into an agile, disruptive innovator capable of staking a data center leadership position, " said Rory Read, president and CEO, AMD.
ENGADGET: AMD absorbs server startup SeaMicro for $330 million, says it's no impulse buy
"It is clear that global economic activity is slowing, and this is impacting the PC market, " chief executive Rory Read said, according to a transcript published by financial site Seeking Alpha.
Tiger sent a message to Rory that Dan Hicks read on-air during the NBC telecast.
In terms of Golf punk (for which read, dishevelled faux antiestablishment), see golf's latest mega-star, Rory McIlroy (cue shaggy hair, baggy clothes and omnipresent baseball cap).
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