Nvidia nears deal to acquire Mellanox Technologies: source

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FILE PHOTO: The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. REUTERS/Robert Galbraith/File Photo

NEW YORK (Reuters) – Chipmaker Nvidia Corp is nearing a deal to acquire peer Mellanox Technologies Ltd for more than $7 billion in cash, a person familiar with the matter said on Sunday.

Nvidia has outbid Intel Corp in the auction for Mellanox and could announce a deal as early as Monday, the person said. The source asked not to be identified because the negotiations are confidential.

Nvidia and Mellanox did not immediately respond to requests for comment. Financial news website Calcalist had reported earlier on Sunday that Nvidia had outbid Intel for Mellanox.

Reporting by Liana B. Baker; Editing by Daniel Wallis

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