Nvidia, Mellanox Technologies win EU approval for $6.8 billion deal

(Reuters) - Semiconductor company Mellanox Technologies (NASDAQ: MLNX) has received approval from EU antitrust and Mexico for its proposed acquisition by chipmaker Nvidia (NASDAQ: NVDA) for $6.8 billion, a regulatory filing showed on Thursday.

Reuters had exclusively reported on Wednesday that both companies were set to win the EU regulatory antitrust approval for the deal.

Nvidia, known for its powerful gaming graphics chips, is looking to boost its data center and artificial intelligence business via the takeover, its biggest deal, to better compete with rival Intel (NASDAQ: INTC).

U.S. authorities have already cleared the deal without conditions, while approval is still pending in China where Mellanox has major customers such as Alibaba (NYSE: BABA) and Baidu (NASDAQ: BIDU).

(Reporting by Shradha Singh in Bengaluru; Editing by Shinjini Ganguli)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• BofA raises AMD target to $720, sees server CPU TAM tripling to $211B by 2030
• AI fears serious, but frontier slowdown unlikely: BMO
• South African tavern shooting death toll rises to 18 after one more victim dies