BREAKING NEWS

Nvidia to buy Israeli Mellanox Technologies for $6.8 bln

By REUTERS

MARCH 11, 2019 13:10

Chipmaker Nvidia Corp said on Monday it will buy Israeli chip designer Mellanox Technologies Ltd for $6.8 billion in cash.

The offer price of $125 per share represents a premium of 14 percent to Mellanox's Friday close.

Mellanox, based in Israel and the United States, makes chips and other hardware for data center servers that power cloud computing.

The deal will help Nvidia boost its data center business and reduce its reliance on the video game industry.

Reuters had reported about the deal on Sunday.

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