A new ATI on the block. Bad day for Diamond and others.
Hellraiser.
Quoted text (32 lines)
>[link lost in import]
>Monday, December 14, 1998 - 08:56 CST
>3Dfx Interactive Acquires STB Systems
>Source: 3Dfx Interactive
>3Dfx Interactive has entered an agreement to acquire STB Systems, a
>manufacturer and distributor of multimedia products, in a
>stock-for-stock purchase transaction. STB shareholders will receive
>0.65 shares of 3Dfx common stock for each share of STB common stock.
>Based on Friday's closing stock prices, the transaction is valued at
>approximately $141 million.
>The deal is expected to close in March 1999 subject to various
>conditions, including customary regulatory approvals and approval by
>the shareholders of both 3Dfx and STB. At the completion of the
>acquisition, STB's operations will remain based in Richardson, TX,
>although the combined companies' headquarters will be at the 3Dfx site
>in San Jose.
>3Dfx claims the transaction will provide PC-OEM and retail customers
>with a single source for 3Dfx branded add-in-boards, allow for a more
>tightly integrated chip, software and board-level layout, and drive a
>more controlled and focused brand investment.
>William Ogle, president and chief executive officer of STB, will join
>the 3Dfx board of directors as vice chairman and executive vice
>president for 3Dfx. Gordon Campbell will remain chairman of 3Dfx.
>--
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