Nvidia outbids Intel to buy Israel's Mellanox in data center push

Nvidia offers bid for Israeli chip firm Mellanox: report

Previously both Intel and Microsoft were in the frame for the purchase of Mellanox, a company originally founded in Israel but now based in San Jose, California.

Nvidia and Intel are reportedly in a battle for control of Israeli chipmaker Mellanox Technologies, with Nvidia claimed to have the lead bid for ownership of the company.

Nvidia's biggest-ever acquisition is aimed at accelerating momentum for one of Chief Executive Officer Jensen Huang's most successful initiatives.

Mellanox had 2,330 full-time employees and 116 part-time employees as of the end of a year ago, according to a filing with the U.S. Securities and Exchange Commission.

Nvidia on Monday announced it has agreed to buy Mellanox in a $6.9 billion all-cash deal. The company develops and sells graphics processors that include artificial intelligence components. "Addressing this demand will require holistic architectures that connect vast numbers of fast computing nodes over intelligent networking fabrics to form a giant datacenter-scale compute engine". We are focused on accelerated computing for high performance computing, and Mellanox is focused on networking and storage for high performance computing, and we have combined the two companies under one roof.

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Nvidia and Mellanox have already collaborated on projects, including the world's two fastest supercomputers, Sierra and Summit, operated by the U.S. Department of Energy. Chips that direct that traffic have become increasingly pivotal as corporate networks and internet-based cloud service providers try to make sense of the plethora of data.

FILE PHOTO - The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017.

Mellanox's revenue surged 26 per cent previous year, topping US$1 billion for the first time.

In January, Nvidia, which has market capitalization of $91 billion, cut its fourth quarter revenue estimate by half a billion dollars because of weak demand for its gaming chips in China and lower-than-expected data centre sales.

Goldman Sachs served as exclusive financial adviser to Nvidia, while Credit Suisse Group and JPMorgan Chase & Co. advised Mellanox.

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