NVIDIA completes ULi Electronics acquisition deal
NVIDIA Corporation has announced that its USD 52 million acquisition of core logic developer and ATI partner, ULi Electronics, has now fully completed, strengthening the company's presence in Asian markets.
NVIDIA Corporation has announced that its USD 52 million acquisition of core logic developer and ATI partner, ULi Electronics, has now fully completed, strengthening the company's presence in Asian markets.
The graphics processor manufacturer initially announced the signing of a definitive acquisition agreement in December, as part of its ongoing investment in platform solution technology - specifically the nForce media and communications processors (MCP), which have provided consistent revenue growth for the firm.
On announcing the deal late last year, Jen-Hsun Huang, NVIDIA president and CEO, commented: "The acquisition provides an opportunity for NVIDIA to leverage a very talented engineering team in order to expand our MCP initiatives while building closer relationships with customers in Asia."
NVIDIA has agreed to pay TWD 19 in cash for each outstanding ULi share and stock option, for a total of approximately USD 52 million, and the company intends to supply ULi customers with current products for the foreseeable future.
The company recently released its Q4 and full fiscal year 2006 financial results, which revealed substantial increases in both revenue and net income - including an 83 per cent year-on-year increase in MCP revenue, following positive growth over six consecutive quarters.