The IST/EURATOM Association is developing a new generation of control and data acquisition hardware for fusion experiments based on the ATCA architecture. This emerging open standard offers a significantly higher data throughput over a reliable High Availability (HA) mechanical and electrical platform. One of this ATCA boards has 32 galvanic isolated ADC channels (18 bit) each mounted on a swappable plug-in card, 8 DAC channels (16 bit), 8 digital I/O channels and embeds a high performance XILINX Virtex 4 family Field Programmable Gate Array (FPGA). The specific modular and configurable hardware design enables adaptable utilization of the board in dissimilar applications. The first configuration, specially developed for tokamak plasma Vertical Stabilization, consists of a Multiple-Input-Multiple-Output (MIMO) controller that is capable of feedback loops faster than 1 ms using a multitude of input signals fed from different boards communicating through the Aurora point-to-point protocol. Massive parallel algorithms can be implemented inside the FPGA either with programmed digital logic, using a HDL hardware description language, or inside included silicon PowerPC running a full fledged real-time operating system. The second board configuration is dedicated for transient recording of the entire 32 channels at 2 MSamples/s to the built-in 512 MB DDR2 memory. Signal data retrieval is accelerated by a DMA-driven PCI Express x1 Interface to the ATCA system controller providing an overall throughput in excess of 100MB/s. This paper illustrates these developments and discusses possible configurations for foreseen applications.