Nvidia signed an agreement to buy ULiNvidia is increasing its sales, marketing and engineering resources by acquiring Taiwan's ULi, a subsidiary of ALi that provides marketing, sales, support and R&D for chipsets and peripherals.
The deal is expected to be completed in 2007.
This deal will increase the depth of Nvidia's engineering and marketing, and also provide it with a presence in Taiwan.
Here is the press release:
NVIDIA TO ACQUIRE ULI ELECTRONICS, A LEADING DEVELOPER OF CORE LOGIC
TECHNOLOGY
TAIPEI, TAIWAN and SANTA CLARA, CA, DECEMBER 14, 2005--NVIDIA Corporation
(Nasdaq: NVDA), the worldwide leader in programmable graphics processor
technologies, today announced that it has signed a definitive agreement to
acquire ULi Electronics Inc. (ULi), one of the PC industry's most
highly-regarded core logic developers. Headquartered in Taipei, ULi also has
offices in Hsinchu; Shanghai; Shenzhen; and San Jose, California.
ULi is recognized for its innovative core logic technology as well as other
multimedia and embedded products. The acquisition represents NVIDIA's
ongoing investment in its platform solution strategy, which leverages the
acclaimed NVIDIA nForce(r) media and communications processors (MCPs) and
NVIDIA(r) GeForce(r) and NVIDIA Quadro(r) graphics processing units (GPUs).
Additionally, the acquisition is expected to strengthen the Company's sales,
marketing, and customer engineering presence in Taiwan and China.
Under the terms of the agreement, NVIDIA will pay 19 New Taiwan Dollars in
cash for each outstanding ULi share and stock option, for a total of
approximately $52 million (USD). The acquisition, which is expected to be
completed in the first quarter of the Company's fiscal year 2007, remains
subject to the satisfaction of regulatory requirements and other customary
closing conditions.
Alex Kuo, president and chief executive officer, ULi, will join NVIDIA as a
headquartered in Santa Clara, California and has offices throughout Asia,
Europe, and the Americas. For more information, visit www.nvidia.com.
Certain statements in this press release including, but not limited to,
statements regarding the anticipated benefits of the acquisition of ULi
Electronics, the anticipated closing and timing of the closing of the
acquisition, NVIDIA continued supply to current ULi customers, and the
employment of Mr. Kuo by NVIDIA are forward-looking statements within the
meaning of the Private Securities Reform Act of 1995 that are subject to
risks and uncertainties that could cause results to be materially different
than expectations. Such risks and uncertainties include, but are not limited
to, the risk that we will not realize the anticipated benefits of this
acquisition, the risk that we may not be able to complete the acquisition,
risks associated with acquisitions including the ability to successfully
integrate technologies, employees and operations, diversion of management's
attention, retaining key employees, ULi customers ending their relationship
with ULi after the completion of the acquisition, risks associated with
international operations, trends in the semiconductor and MCP industries,
failure in NVIDIA MCP initiatives, the impact of competitive products and
technological advances, reliance on third party manufacturers, market
acceptance of new products and technologies and other risks detailed from
time to time in the NVIDIA reports filed with the Securities and Exchange
Commission including its Form 10-Q for the quarter ended October 30, 2005.
These forward-looking statements are not guarantees of future performance
and speak only as of the date hereof. NVIDIA disclaims any obligation to
update these forward-looking statements.
