Mobile technology giant Qualcomm has announced it is buying AMD’s mobile graphics and multimedia assets for some $65 million in cash. Qualcomm has acquired certain graphics and multimedia technology assets, intellectual property and resources that were formerly the basis of AMD’s handheld business.

The acquisition enhances Qualcomm’s multimedia capabilities, allowing Qualcomm to strengthen its leadership position in delivering more advanced products that redefine next-generation mobile user experiences.

Qualcomm has extended offers of employment to various design and development teams from AMD’s handheld business. The teams are developing technologies to enhance mobile devices in areas including 2D and 3D graphics, audio/video, display, and architecture.