NVIDIA Corporation acquired PortalPlayer for $355 million, a transaction completed in January 2007, structured as all cash.
PortalPlayer operates in Handheld / consumer electronics semiconductors, is based in United States. PortalPlayer supplied semiconductors, firmware and software for personal media players and secondary-display-enabled computers. NVIDIA acquired it by merger under an agreement dated November 6, 2006, with each share converted to $13.50 in cash. The deal was positioned to accelerate NVIDIA's handheld product strategy, building on its low-power graphics, TV and video technology already used in portable media devices.
NVIDIA said the acquisition would accelerate its ongoing investment in a handheld product strategy that combined graphics, TV and video with low power draw and a small footprint, technology already used in portable devices from Motorola, Samsung, Kyocera, HTC and Sony Ericsson.
Handheld/media-player IP and engineering talent to build out a mobile product line. Combine PortalPlayer's media-device silicon with NVIDIA's low-power graphics for portable devices. Folded into NVIDIA's handheld/mobile efforts.
Advisory firms were not disclosed for this transaction.