NVIDIA to Buy 3dfx

A huge development occured in the gaming and graphics card industry yesterday, as nVIDIA announced the purchase of its biggest rival, 3dfx. 3dfx agreed to dissolve itself and sell most of its assets to nVIDIA for some $70 million cash and 1 million shares of common stock. nVIDIA also agreed to loan 3dfx $15 million, which will come out of the cash portion of the purchase when the deal is finalized. Current litigation between the two companies will also cease as part of the deal. A live conference call from nVIDIA executives will be webcast on December 18th at 7am ESThere. The cash and stock come to a grand total of $112 million. Read the NVIDIA press release or the 3dfx press release for more information.