3dfx Announces
Completion of Sale of Assets
3dfx Interactive,
Inc. (Nasdaq:TDFX) today announced that, as part
of its effort to wind up its business, it has
completed the sale of substantially all of its
assets to NVIDIA US Investment Company, a
wholly-owned subsidiary of NVIDIA Corporation
(Nasdaq:NVDA), pursuant to an asset purchase
agreement executed by the parties on December 15,
2000.
At the closing,
NVIDIA US Investment Company paid cash in the net
amount of $55 million in accordance with the
asset purchase agreement. Subject to 3dfx in the
future satisfying certain additional conditions
provided for in the asset purchase agreement,
NVIDIA US Investment Company will also pay to
3dfx one million shares of Nvidia common stock or
a combination of up to $25 million in cash and a
lesser number of shares of Nvidia common stock.
3dfx is not yet in a position to announce if, or
when, it will be able to satisfy these additional
conditions.
About 3dfx Interactive
3dfx Interactive, Inc.
developed high performance, cost-effective
graphics chips, graphics boards, software and
related technology that enables an interactive
and realistic 3D experience across multiple
hardware platforms, but is now in the process of
winding up its business.
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