Taipei, Taiwan and Santa Clara, California (ots/PRNewswire) -
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 senior executive responsible for MCP sales, marketing,
and support functions in Asia. NVIDIA intends to supply ULi customers
with current products for the foreseeable future.
Jen-Hsun Huang, president and chief executive officer, NVIDIA,
stated: "Alex and his team have built a company admired for creating
innovative products in the core logic arena. 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."
"At ULi, we have always believed that the opportunities in the MCP
space are tremendous," added Mr. Kuo. "The strength of the NVIDIA
world-class engineering and marketing organizations will enable the
ULi team to take product design and development to the next level."
NVIDIA is the largest AMD core logic supplier in the world
(Source: Mercury Research, Third Quarter 2005 PC CPU Report). NVIDIA
nForce MCP revenue has increased 100 percent year-over-year and has
achieved record revenue for five consecutive quarters.
ULi Electronics Inc. is a leading fabless IC design company that
develops world-class solutions for consumer electronics and
professional computing products. ULi's expertise in the PC
information industry and solid design capability position ULi as a
major component supplier dedicated to bringing system manufacturers
more highly integrated, performance enhancing, and cost effective IC
solutions. For more information, visit www.uli.com.tw.
NVIDIA Corporation is the worldwide leader in programmable
graphics processor technologies. The Company creates innovative,
industry-changing products for computing, consumer electronics, and
mobile devices. NVIDIA is 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.
NOTE: All company and/or product names may be trade names,
trademarks and/or registered trademarks of the respective owners with
which they are associated. Features, pricing, availability, and
specifications are subject to change without notice.
For Further Information, contact:
NVIDIA Corporation, Asia-Pacific
Web site: http://www.nvidia.com
ots Originaltext: NVIDIA CORPORATION
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Hazel Heng of NVIDIA Corporation, Asia-Pacific, +65-348-0330, or
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+1-408-486-6263, or email@example.com; or Cynthia Lee of ULi Taipei,
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