TAIPEI, TAIWAN and SANTA CLARA, CA—DECEMBER 14, 2005— 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 media and communications
processors (MCPs) and NVIDIA GeForce and NVIDIA Quadro 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.
Source: nVIDIA Press Release