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Monday, March 11, 2019

Mellanox Tech (MLNX) to be acquired by NVIDIA (NVDA) for $125/sh



Mellanox Tech to be acquired by NVIDIA (NVDA) for $125 per share in cash
  • NVIDIA and Mellanox today announced that the companies have reached a definitive agreement under which NVIDIA will acquire Mellanox, an Israeli competitor.
  • NVIDIA will acquire all of the issued and outstanding common shares of Mellanox for $125 per share in cash, representing a total enterprise value of approximately $6.9 billion.
  • Once complete, the combination is expected to be immediately accretive to NVIDIA's non-GAAP gross margin, non-GAAP earnings per share and free cash flow.
  • NVIDIA intends to fund the acquisition through cash on its balance sheet. In addition, there is no change to its previously announced capital return program for the rest of fiscal 2020. The transaction has been approved by both companies' boards of directors and is expected to close by the end of calendar year 2019

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