Rumble considers near $1.2 billion offer for German AI cloud group Northern Data
Rumble, also a cloud services provider, said a deal would integrate Northern Data's data center business and GPU cloud business with a significant number of Nvidia GPUs, into Rumble's existing operations.
Rumble is considering offering 2.319 shares for each Northern Data share, both companies said.
The exchange values Northern Data at about $18.3 per share (about 15.69 euros per share), based on Reuters calculations. This is at a discount of about 32% to the German company's last close.
Rumble said its proposed offer assumes Northern Data's Peak Mining unit will be divested prior to the completion of the deal.
Tether, the majority shareholder of Northern Data, has expressed support for the transaction, according to the statements. However, the companies said there is no certainty that the discussions will eventually result in a formal offer for the German group.
(1 euro = $1.1664)
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