Acquisition of Mellanox by Nvidia Approved by China’s Antitrust Authority

NVIDIA Corp. received approval from all necessary authorities to proceed with its planned acquisition of Mellanox Technologies, Ltd., as announced in March 2019.

The latest approval by China’s State Administration for Market Regulation follows antitrust approval from the European Commission and Mexico and the expiration of the waiting period under US antitrust laws.

With the exception of the remaining customary closing conditions, all conditions to the deal’s closing have been satisfied.

NVIDIA announced on March 11, 2019, its intention to acquire Israel-based Mellanox for $125 per share in cash, or $6.9 billion, in a transaction that would combine NVIDIA’s computing expertise with Mellanox’s interconnect technology.

The acquisition is expected to be accretive to NVIDIA’s non-GAAP gross margin, non-GAAP EPS and free cash flow.

Closing is expected to occur on or about April 27, 2020.

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