NVIDIA Acquires a Mobile Devices Chip Designer

NVIDIA Corporation today announced that it has signed a definitive agreement to acquire MediaQ, a leading provider of graphics and multimedia technology for wireless mobile devices. "Under the terms of the agreement, NVIDIA will acquire privately-held MediaQ for $70 million in total consideration, which NVIDIA expects to pay predominantly in cash. The acquisition, which is expected to be completed in the third quarter of NVIDIA’s fiscal year 2004, has been approved by the board of directors of each company and is subject to the satisfaction of regulatory requirements and other customary closing conditions."

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