NVIDIA Corporation to Acquire Hybrid Graphics23 March 2006
NVIDIA Corporation (Nasdaq: NVDA), the worldwide leader in programmable graphics processor technologies, today announced that it has signed a definitive agreement to acquire Hybrid Graphics Ltd., the leading developer of embedded 2D and 3D graphics software for handheld devices. This acquisition will enable the customers of both companies to deploy compelling graphics solutions for the entire worldwide handheld market.
Under the terms of the agreement, which is subject to the satisfaction of customary closing conditions, Hybrid Graphics will become a subsidiary of NVIDIA Corporation and will continue to market and sell its products under the Hybrid name. Hybrid Graphics will maintain full support for its existing customer base, while continuing to invest in growing its engineering department as well as driving new business opportunities. No further terms of the acquisition were disclosed.
"Since its inception, Hybrid has successfully delivered graphics solutions to hundreds of millions of handheld devices. We provide innovative graphics technology and we make it work in the real world, in real devices," said Mikael Honkavaara, CEO of Hybrid Graphics. "Joining with NVIDIA will enable Hybrid to both accelerate its growth and continue to play a key role in defining, developing and shipping pervasive graphics solutions for the handheld industry."
Founded in 1994 and based in Finland, Hybrid Graphics is a highly respected software company at the forefront of developing and licensing graphics technology solutions for handheld consumer devices. Hybrid's customers are key players in the mobile industry including Nokia, Ericsson, Philips, Samsung, and Symbian whose total reach is well over 50% of the existing handheld market.
Jen-Hsun Huang, president and chief executive officer, NVIDIA, stated: "Over the next decade, billions of handheld devices will be sold and for many, they are likely to become their most important computing device. These powerful and multi-function handheld devices will require rich graphics and by combining with the recognized leader in handheld graphics software, we are positioned to accelerate the adoption of graphics by offering the handheld industry a range of solutions from software to IP to GPUs."
For more information on NVIDIA and Hybrid Graphics, visit http://www.nvidia.com and http://www.hybrid.fi
NVIDIA Corporation
NVIDIA Corporation is the worldwide leader in programmable graphics processor technologies. The Company creates innovative, industry-changing products for computing, consumer electronics, and mobile devices. NVIDIA is headquartered in Santa Clara, CA and has offices throughout Asia, Europe, and the Americas. For more information, visit http://www.nvidia.com .
Certain statements in this press release including, but not limited to, statements regarding the anticipated benefits of the acquisition of Hybrid and the partnership between the companies, increases in complexity and sophistication of handheld multimedia, increases in the need for graphics solutions for more complex handheld multimedia, post-acquisition corporate structure, continued marketing of Hybrid Graphics products and support for its customer base, investments in Hybrid's engineering department and new business opportunities and Hybrid's growth, are forward-looking statements within the meaning of the Private Securities Reform Act of 1995 that are subject to risks and uncertainties that could cause results to be materially different than expectations. Such risks and uncertainties include, but are not limited to, the risk that we will not realize the anticipated benefits of this acquisition and the partnership, the risk that we may not be able to complete the acquisition, risks associated with acquisitions including the ability to successfully integrate technologies, employees and operations, diversion of management's attention, retaining key employees, loss of Hybrid Graphics' customers, risks associated with international operations, trends in the semiconductor and handheld multimedia industries, failure of handheld initiatives, slower than anticipated growth of the market for handheld multimedia and devices, the impact of competitive products and technological advances, reliance on third party manufacturers, market acceptance of new products and technologies and other risks detailed from time to time in the NVIDIA reports filed with the Securities and Exchange Commission including its Form 10-K for the fiscal year ended January 29, 2006. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof. NVIDIA disclaims any obligation to update these forward-looking statements.
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Source: prnewswire
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