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Monday, 26 March 2007 13:38

Nvidia not duped in 3dfx sale

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Even though it paid ten times too much

 

Nvidia CEO Jen-Hsun Huang told a court that he did not feel duped by paying $70 million for 3dfx even though it now estimates it was only worth $15 million.


Nvidia is being sued by shareholders of the Voodoo graphics board maker 3dfx which went bankrupt.  They claim the company was worth $150 million.
Lawyers for the creditors claim Nvidia was in a bidding war with Via Technologies.


They claim Nvidia did not make an offer to buy 3dfx but offered a strategic investment.


Huang said that it was not in 3dfx management's best interest to tell him what Via was offering, and he didn't feel duped by 3dfx management.
He said that Nvidia offered a fair deal. And they accepted our deal and they seemed happy with it.


According to SiliconValley.com the case will hinge on Nvidia's accounts and whether or not they will stand up to scrutiny.
More here

Last modified on Monday, 26 March 2007 18:25
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