Ventures News: Nvidia acquires MediaQ for $70 million

04.08.2003 | Wirtschaftspresse

SANTA CLARA, Calif. -- Nvidia Corp. today (Aug. 4) announced it has signed a definitive agreement to acquire chip maker MediaQ Inc. for $70 million in cash.

Founded in 1997, MediaQ is a provider of graphics and multimedia technology for wireless mobile devices. Its chips are geared for 3G and 2.5G handsets, PDAs, LCD displays, and other mobile devices.

MediaQ customers include leading handset and PDA manufacturers, such as Mitsubishi, Siemens, DBTel, Dell, HP, Palm, Philips, Sharp, and Sony.

"This acquisition supports Nvidia's strategy of extending our platform reach and accelerates our entry into the wireless mobile markets," added Jen-Hsun Huang, chief executive of Nvidia, in a statement.

"The MediaQ acquisition extends Nvidia's competencies in ultra low power design methodologies and system-on-chip designs, as well as in the Microsoft Pocket PC, Microsoft SmartPhone, Palm, and Symbian operating systems," he added.