Transmeta has announced that AMD has invested US$7.5 million into the company and has recieved shares in exchange for the investment.

So far this announcement haven't made it onto the AMD website, which seems rather odd. There's very little information in the press release on Transmeta's website, apart from a couple of company statements.

"We are very pleased that AMD has made a strategic investment in the future of Transmeta," said Les Crudele, president and chief executive officer of Transmeta.

"Transmeta was a key ally in helping to bring our highly-successful AMD64 technology to market and has supported the widespread industry adoption of both AMD64 and AMD's HyperTransport technology." said Dirk Meyer, president and chief operating officer of AMD.

And that's pretty much that. Hopefully this means that AMD has more access to Transmeta's low power technology and it will allow them to compete more efficiently against Intel's mobile platform.

You can read the press release here