Nvidia is buying Mellanox Technologies in a $6.9 billion deal (NVDA)

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Nvidia has agreed to buy Mellanox Technologies for $6.9 billion.
The deal will pay Mellanox shareholders $125 a share — a 14.3% premium to Friday's closing price.
Nvidia reportedly beat out Intel in the race for Mellanox.
Watch Nvidia and Mellanox Technologies trade live.

Nvidia has agreed to buy the chipmaker Mellanox Technologies in a $6.9 billion all-cash deal that will help it expand into the market for data-center components.

The offer, beat out rival Intel, is the largest in Nvidia's history, and will pay Mellanox shareholders $125 a share—a 14.3% premium to Friday's closing price.

"We're excited to unite NVIDIA's accelerated computing platform with Mellanox’s world-renowned accelerated networking platform under one roof to create next-generation datacenter-scale computing solutions," Nvidia founder and CEO Jensen Huang said in the press release.

Goldman Sachs was the financial advisor to Nvidia while Credit Suisse and JPMorgan were the financial advisors for Mellanox.

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