nVidia Corp. said month that it had signed an agreement to acquire PortalPlayer in a cash fro stock transaction.
The terms which have been approved by the Board of Directors of both companies , nVidia stated that it will pay $13.50 in cash for each outstanding share of PortalPlayer common stock.
The deal represents a purchase price of $357 million.
PortalPlayer was recently in the news when it apparently lost a contract for the recent iPod nano to Samsung, but PortalPlayer did remain seated in the production of the fifth-generation video iPod.
It is unknown how nVidia sees a future with the iPod, but it has been rumoured that nVidia could succeed Broadcom in the production of an improved video capable iPod.