For those unaware of Icera, the Company has over 550 patents granted or pending all over the world – as well as being approved by over 50 carriers over the globe. Icera will provide two processors (application processor and baseband processor) to NVIDIA, the combined company of both will allow OEM customers to improve their time to market and deliver the requirements of next-generation mobile computing.
The acquisition, which was made for $637 million has been approved by the Board of Directors of both companies and is set to be completed in 30 days time. On the acquisition of Icera, Jen-Hsun Huang, President and CEO of NVIDIA said “This is a key step in NVIDIA's plans to be a major player in the mobile computing revolution. Adding Icera's technology to Tegra gives us an outstanding platform to support the industry's best phones and tablets.Icera is a perfect fit for NVIDIA. Icera has the right team, with a strong, proven track record”.
Stan Boland, President and CEO of Icera added, “NVIDIA's Tegra processor has the most impressive roadmap in the industry, and it is an ideal match for Icera. As part of NVIDIA, we will be able to reach a broader market. Our team has collaborated closely with NVIDIA for several years on a range of projects, and we're delighted to be joining forces”.