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News: NVidia plays up to Apple

Posted: 12:18AM

Vnunet - "Nvidia bought itself some leverage with Apple Computer on the cheap when it ponied up $357 million to buy tiny PortalPlayer (the semiconductor maker that designs chips for Apples video iPods) on Monday. Santa Clara, Calif.-based Nvidia said it will pay $13.50 a share for the specialty chip company, a 19% premium to PortalPlayers previous 20-day trading average. However, the $357 million price includes $196 million in cash reserves held by PortalPlayer which makes the real price tag $161 million, a mere pittance for Nvidia and helps the company combat a growing threat in cell phones due to Advanced Micro Devices recent purchase of rival ATI Technologies."

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