(Reuters) -Video platform Rumble is set to acquire German artificial intelligence cloud company Northern Data in an all-stock transaction worth $766.86 million, the companies said on Monday.
For each Northern Data share, its shareholders will receive 2.0281 newly-issued Rumble Class A shares. Shareholders will also own 30.4% of Rumble following the completion of deal.
The deal includes a $150 million graphics processing unit leasing agreement with cryptocurrency group Tether, which currently owns 48% of Rumble, as well as $200 million in tax liability support from Rumble.
Following deal completion, Rumble will acquire 22,400 Nvidia GPUs and Northern Data will delist itself.
Rumble, which hosts U.S. President Donald Trump’s Truth Social, in August made an offer to acquire Northern Data, seeking control of the German company’s Taiga business and its large-scale data center arm, Ardent.
(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Sherry Jacob-Phillips and Mrigank Dhaniwala)
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