Nvidia is buying portable multimedia chip maker PortalPlayer for $357 million in cash….PortalPlayer makes chips and software that are primarily used in Apple’s iPods and other MP3 players. The company’s future, however, has been clouded since April when it disclosed that its chips wouldn’t be used in iPod nano device.
The purchase price represents a 19% premium to the 20-day average closing price of PortalPlayer shares through Nov. 3.
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