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Monday, November 6, 2006
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Nvidia to Buy PortalPlayer for $357 Million
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Nvidia om Monday announced that it has agreed to acquire San Jose, CA-based PortalPlayer, a supplier of semiconductors, firmware, and software for personal media players (PMPs) and secondary display-enabled computers.
PortalPlayer, which was founded in 1999, is
recognized for its system-on-chip (SoC) technology which powers some of
the world's most recognizable portable digital music players.
Under terms of the agreement, NVIDIA will pay $13.50 in cash for each
share of PortalPlayer common stock, which represents a total
purchase price of approximately $357 million, or approximately $161
million net of cash on PortalPlayer's balance sheet as of September 30,
2006.
The acquisition will help Nvidia expand its line of computer chips used in handheld devices such as portable digital media players and phones capable of playing music and videos.
"Modern mobile devices are miniaturized yet powerful multimedia
computers. At the core of their architectures are complex Application
Processors integrating microprocessors, system logic, networking, and
multimedia processors," said Jen-Hsun Huang, president and CEO of
NVIDIA. "With this acquisition, we are combining the two essential
technologies of next-generation PMPs, PDAs, portable game players, and
phones: PortalPlayer's innovative Application Processor technology and
NVIDIA's industry-leading GPU technology. With the products created
through this combination, we intend to drive the next digital
revolution, where the mobile device becomes our most personal computer."
Today, NVIDIA's
handheld technology, which combines high-quality graphics, TV, and video
with low power and a small footprint, is at the foundation of many
portable media devices, including phones from Motorola,
Samsung, Kyocera, HTC, and Sony Ericsson. |
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