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3DFX Sells to nVidia

Posted by Keith Elder | Posted in Computer Hardware, PC Gaming | Posted on 16-12-2000

Talk about a turn of events. Just when you thought 3DFX was about to make a come back with their new release of the Voodoo 5000 we get hit with news like this. Today 3dfx announced a move to be purchased and absorbed by nVidia. All I want is a 100% compatible Linux video card that is 100% supported for gaming. I really don’t care who makes it as long as it works. Hopefully something good will come out of it but we will not know for another few months. SAN JOSE, Calif., Dec. 15 /PRNewswire/ — In an effort to protect its creditors and maximize shareholder value, 3dfx Interactive, Inc. (Nasdaq: TDFX – news) announced today that it will substantially reduce all of its workforce as part of an initiative to significantly reduce expenses. In addition, the company said its Board of Directors will recommend to its shareholders that they approve the sale of most of the company’s assets to NVIDIA Corporation (Nasdaq: NVDA – news) as outlined in a definitive agreement between the companies that was signed today, and also approve a plan to dissolve the company following completion of the asset sale.

“After aggressively pursuing a wide range of options that take into consideration the interests of our creditors, our shareholders, our employees and our customers,” said Alex Leupp, president and CEO, 3dfx Interactive Inc., “we strongly believe that to reduce expenses, sell our assets and dissolve the company provides the highest return to our creditors, shareholders, and employees.”

“We expect that the combined technologies of 3dfx and NVIDIA will continue the legacy that 3dfx began in 1994,” Leupp continued.

“NVIDIA is the number one supplier of graphics technology to the OEM market. With the addition of 3dfx’s high-quality technology that leads the retail market, we believe the combination of the two will result in even greater PC graphics leadership.”

For more information visit Yahoo for more information.

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