Rumble Plans All-Stock Acquisition of Northern Data Valued at $1.17 Billion
Rumble intends to acquire Northern Data, an AI company, through a potential all-stock exchange offer valued at up to $1.17 billion.
Key Details of the Acquisition
- Rumble aims to offer 2.319 shares for each Northern Data share, valuing it at approximately $18.3 per share.
- This offer represents a 32% discount from Northern Data's last closing price in Frankfurt.
- Northern Data shareholders could own up to 33.3% of Rumble post-acquisition.
- Rumble seeks control over Northern Data’s GPU-rich cloud business and data center operations.
- The proposal is still under consideration by Northern Data's Board, with possible adjustments.
- Tether, a key stakeholder in Northern Data, supports the transaction and plans to become a significant customer of Rumble.
Rumble's Bitcoin Investment Strategy
- Rumble approved a corporate treasury diversification strategy into Bitcoin of up to $20 million in November 2024.
- In January 2025, Rumble made its first Bitcoin purchase, rumored to be worth up to $20 million.