Nvidia set to acquire Mellanox Technologies for $6.9 billion

Nvidia offers bid for Israeli chip firm Mellanox: report

Mellanox is traded on Nasdaq at a market cap of $5.9 billion.

Nvidia appears close to its biggest ever acquisition giving it leverage in the data centre market.

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

A report on the technology website for the Israeli daily newspaper Calcalist claims that Nvidia has shown a firm interest in acquiring Mellanox Technologies. The company develops and sells graphics processors that include artificial intelligence components.

"We share the same vision for accelerated computing as NVIDIA", Mellanox founder and CEO Eyal Waldman said in a statement.

Mellanox will be accretive to Nvidia's non-GAAP earnings and cash flow. Overall their technology is used in over half of the TOP500-listed supercomputers in the world, as well as countless datacenters. To deal with this, data centers in future will be built as though they are single giant computers "with tens of thousands of compute nodes", requiring inter-connections that let them work in parallel. The rate at which chips direct that traffic has become increasingly important as corporate computer networks and cloud service providers try to make sense of the growing flood of data being generated.

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The purchase essentially means that NVIDIA gets to add Mellanox's accelerated networking platform to its already expansive portfolio of AI, data centre, and automotive technology.

The game plan for Nvidia is to use Mellanox to optimize data center workloads across compute, networking and storage.

Mellanox reported better-than-expected results for 2018, achieving a record $1.1 billion in revenue, an increase of 26% from 2017.

Nvidia had $2.9 billion in sales from its data center unit last year, up from $830 million two years earlier.

Xilinx Inc was also part of the process, sources said.

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

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