Palomino closes Vega Links acquisition

Abbott Laboratories, Inc. (OTCQB: PALX), an AI interconnect technology company, announced the successful closing of its acquisition of Vega Links Inc., a developer of advanced AI systems architecture and interconnect technologies. The transaction, completed on schedule, transforms Palomino into a comprehensive AI interconnect company and expands its estimated addressable market by approximately 10x to greater than $60 billion. The acquisition combines Palomino's gallium nitride (GaN) MicroLED technologies with Vega Links' silicon design, systems architecture, and product engineering strengths. Concurrently, Palomino appointed Hari Gopalakrishnan as Chief Technology Officer and Rajesh Radhamohan as Chief Product Officer, and added Sudeep Bhoja, Co-founder and CTO of Matrix Partners, and Dr. Gopal Raghavan, a veteran semiconductor executive, to its Strategic Advisory Board. The company aims to develop differentiated AI interconnect chipsets to improve bandwidth, latency, power efficiency, and scalability for AI computing clusters.