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Mar 11, 2019

HFN Advised Mellanox Technologies in Acquisition by NVIDIA

HFN represented Mellanox through this groundbreaking $6.9 billion transaction, one of the highest-ever sums paid for an Israeli hi-tech company.

HFN advised Mellanox Technologies, Ltd. (NASDAQ: MLNX) - a leading supplier of end-to-end Ethernet and InfiniBand smart interconnect solutions and services for servers and storage - in its entry into a definitive agreement for its acquisition, through a reverse triangular merger structure, by NVIDIA Corporation (NASDAQ: NVDA).

NVIDIA's invention of the GPU in 1999 sparked the growth of the PC gaming market, redefined modern computer graphics and revolutionised parallel computing and, more recently, the GPU deep-learning ignited modern AI — the next era of computing — with the GPU acting as the brain of computers, robots and self-driving cars that can perceive and understand the world.

A definitive merger agreement was signed by the parties on March 10, 2019 and the transaction is scheduled to close by the end of 2019. The aggregate consideration to be paid by NVIDIA is estimated at $6.9 billion.

HFN has represented Mellanox on ongoing matters for the last nine years, including in its negotiation and entering settlement agreement with activist shareholder Starboard Value LP.

This matter was led by the Head of Corporate and Securities, Ehud SolHi-Tech Partner, Yuval Meidar, and Corporate & Securities Associate, Yochay Moshe

In addition, the following HFN partners assisted Mellanox in the acquisition process: Labour & Employment Partners, Moria Tam-Harshoshanim and Michal Haberfeld, Tax Partners, Yuval Navot, Ofer Granot, and Ehab Farah, Shachar Porat (Employee Tax Benefit and Employee Incentive Schemes), Iris Achmon (Antitrust and Competition), Gal Eschet (Hi-Tech) and Roy Nachimzon (Banking and Finance).

Click here and here for more.

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