Latest news with #NorthernDataAG
Bloomberg
3 days ago
- Business
- Bloomberg
Rumble, Northern Data Weigh $4.5 Billion AI Cloud Merger
Rumble Inc. is weighing an offer to buy German data center company Northern Data AG in an all-stock deal valuing the target at about $1.17 billion that would boost the conservative video service's bid to become a cloud-computing provider. Rumble has proposed paying 2.319 new shares for each Northern Data share, the companies said in separate statements on Sunday and Monday. That would value Northern Data's stock at about $18.27 apiece, a steep discount to the company's share price of €23.02 ($26.81) as of Friday's closing price. Northern Data shareholders would end up owning about a third of Rumble.
Economic Times
4 days ago
- Business
- Economic Times
Rumble considers near $1.2 billion offer for German AI cloud group Northern Data
Video platform Rumble is considering a $1.17 billion bid for German AI cloud group Northern Data AG. The proposed offer would integrate Northern Data's data centre and GPU cloud businesses with Rumble's operations. Tether, Northern Data's majority shareholder, supports the transaction, though no formal offer is guaranteed. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads US-listed video platform Rumble is considering a potential offer of about $1.17 billion (€1 billion) for German AI cloud group Northern Data AG , according to separate statements from the companies and Reuters also a cloud services provider, said a deal would integrate Northern Data's data centre business and GPU cloud business with a significant number of Nvidia GPUs , into Rumble's existing is considering offering 2.319 shares for each Northern Data share, both companies exchange values Northern Data at about $18.3 per share (about €15.69 per share), based on Reuters calculations. This is at a discount of about 32% to the German company's last said its proposed offer assumes Northern Data's Peak Mining unit will be divested prior to the completion of the 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 = $1.1664)
