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Posted on April 1, 2001 by Thomas McGuire
Helsinki, Finland – April 1, 2001 – Bitboys Oy® today announced that it has signed a definitive agreement to acquire certain graphics related assets of NVIDIA Corporation (Nasdaq: NVDA), a global leader in advanced graphics & multimedia processing technology for the consumer & professional computing markets. These graphics related assets include, but are not limited to, patents, pending patent applications, trademarks, brand names, & chip inventory related to the graphics business of NVIDIA.
Under the terms of the agreement, Bitboys will pay to NVIDIA a total consideration of €170 million in (Monopoly) money & 500,000 million shares of non-existent stocks. The asset acquisition has been approved by the Board of Directors of each company & is subject to NVIDIA shareholder approval, the satisfaction of regulatory requirements & other customary closing conditions. This acquisition will be accounted for as a purchase & is expected to be complete in the imaginiary first quarter of Bitboy Oy's fiscal year 2002.
NVIDIA executives will conduct a conference call on Monday, April 2, 2001 at 7:00AM, Pacific Time about the shock purchase of NVIDIA's core assets. The conference call number is 212-231-6017, reservation number 17310062. A recorded playback of the conference call will be available on Wednesday, April 4, 2001. The call-in number for the replay is 800-633-8284 (US), 858-812-6440 (International), (passcode: 17310062). A live webcast (listen-only mode) of the conference call will be available at http://www.nvidia.com/Company/InvestorRelations; at http://www.streetevents.com; & at http://www.bestcalls.com. You must have a compatible media player installed on your computer in order to listen to the webcast. Suggested Media Players for this event would be Windows Media Player or Real Player 8.
About NVIDIA
NVIDIA Corporation (Nasdaq: NVDA), based in Santa Clara, California., is the global leader in advanced graphics & multimedia processing technology for the consumer & professional computing markets. Its 2D, 3D, video & multimedia capabilities make NVIDIA one of the premier semiconductor companies in the world. NVIDIA offers a wide range of products & services, delivering superior performance & crisp visual quality for PC-based applications such as manufacturing, science, e-business, entertainment, & education.
About Bitboys Oy
Bitboys Oy, based in Finland is an innovative 3D graphics processor company changing the way 3D graphics is implemented by introducing a revolutionary architecture that will exceed all current expectations of graphics performance & set new standards for the industry going forward. Bitboys technology provides the highest performance 3D solutions without the added cost of expensive, less capable architectures. That means far better value to the consumer & a much better overall visual experience as well. The company's core technology, personnel & vision will enable Bitboys to be a leader in 3D by empowering a new class of products & companies.
This news release contains forward-looking statements that involve risks & uncertainties that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, risks relating to the completion of the contemplated transaction, including the risk that required regulatory clearances or shareholder approval might not be obtained in a timely manner or at all. In addition, statements in this press release relating to the expected benefits of the contemplated transaction are subject to risks relating to the timing & successful completion of technology & product development efforts, integration of the imagined technologies & assets of Bitboys Oy & real technologies & assets of NVIDIA Corporation, unanticipated expenditures, changing relationships with customers, suppliers & strategic partners & other factors described in the most recent Form 10-Q, most recent Form 10-K & other periodic reports filed by Bitboys Oy & NVIDIA, with the Securities & Exchange Commission.
Additional Information & Where to find It
Bitboys Oy plans to file a Registration Statement on SEC Form S-4 in connection with the transaction, & Bitboys Oy & NVIDIA expects to mail a Proxy Statement/Prospectus to shareholders of NVIDIA containing information about the transaction. Investors & security holders are urged to read the Registration Statement & the Proxy Statement/Prospectus carefully when they are available. The Registration Statement & the Proxy Statement/Prospectus will contain important information about Bitboys Oy, NVIDIA, the transaction & related matters. Investors & security holders will be able to obtain free copies of these documents through the website maintained by the U.S. Securities & Exchange Commission at http://www.sec.gov. Free copies of the Proxy Statement/Prospectus & these other documents may also be obtained from Bitboys Oy by directing a request through the Investors Relations portion of Bitboys Oy's website at http://www.Bitboys.com or by mail to Bitboys Oy, Kutojantie 7, FIN-02630 ESPOO, FINLAND, attention: Investor Relations, telephone: +358-9-47800940
In addition to the Registration Statement & the Proxy Statement/Prospectus, Bitboys Oy & NVIDIA file annual, quarterly & special reports, proxy statements & other information with the Securities & Exchange Commission. You may read & copy any reports, statements or other information filed by Bitboys Oy or NVIDIA at the SEC public reference rooms at 450 Fifth Street, N.W., Washington, D.C. 20549 or at any of the Commission's other public reference rooms in New York, New York & Chicago, Illinois. Please call the Commission at 1-800-SEC-0330 for further information on the public reference rooms. Bitboy Oy's & NVIDIA's filings with the Commission are also available to the public from commercial document-retrieval services & at the website maintained by the Commission at http://www.sec.gov.
The directors & executive officers of Bitboys Oy & NVIDIA have interests in the transaction, some of which may differ from, or may be in addition to, those of NVIDIA's shareholders generally. A description of the interests that Bitboy Oy's & NVIDIA's directors & executive officers have in the transaction will be available in the Proxy Statement/Prospectus. NVIDIA will be & certain of its directors, executive officers & other members of NVIDIA's management & employees may be soliciting proxies from NVIDIA shareholders in favor of the transaction. The directors & officers of NVIDIA may be deemed to be participants in NVIDIA's solicitation of proxies. Information concerning the participants will be set forth in the Proxy Statement/Prospectus when its filed with the Securities & Exchange Commission.
Reactions
Ex-NVIDIA Public Relations person, Brian Burke (Who only announced his leaving of NVIDIA for Bitboys Oy mere hours before this announcement) had the following the say about the Acquistion - Regarding what exactly is being purchased under the terms of the Acquistion & how this effects the semi-recent 3DFX core asset purchase by NVIDIA;
The Acquistion is of their (NVIDIA) core assets, which includes their patents, patent pending applications, trademarks, branding, & inventory related to the graphics business. Gigapixel was a company who was purchased by 3dfx, who was then purchased by NVIDIA. We have purchased NVIDIA's core assets, so that means we have access to whatever technology might've been developed by all 3 companys. The three transactions were different in that the 3dfx/Gigapixel transaction was a complete buyout of the company, while NVIDIA merely purchased 3dfx core assets. Today's announcement is that Bitboys has only purchased the core assets of NVIDIA, so I want to make it clear that it's not a complete buyout.
Bitboys Oy President & CEO, Shane Long had the following to say on their Acquistion of NVIDIA;
Bitboys Oy believes that NVIDIA has a tremendous amount of resident expertise in graphics technology. NVIDIA, with its patented & award-winning technology, has been recognized for its ability to bring some of the world's finest games, interactive entertainment & media-rich business applications to life. This transaction substantially increases graphics technology assets at Bitboys Oy making us a stronger force in the Vaporware... I mean, Graphics Hardware market.
With the shock announcement we decided to ask ID Softwares John Carmack how he felt about the future, a Bitboys Oy XBA™ (Xtreme Bandwidth Architecture™) powered future (Seeing that he seems to be one of the few people anyone listens to);
I have never had any contact with Bitboys, let alone seen their technology. I DO NOT ENDORSE THEM.
Ohh John, you're such a tease.
NVIDIA Public Relations person, Diane Vanesse, gave the following reply when questioned about the announcement;
....... This reply being the exact same reply given when asked about the GeForce 1/2/3 hardware Texture Compression problem (Sorry, I just couldn't resist throwing this one in, oh & before you email me, Read this).
Disclaimer
One person was hurt in the creation of this page...., but they are feeling better now. In case you didn't Get it yet this article is a joke (What, you've never heard of April Fools day) & makes no represents upon reality, although where possible all quotes & such are modified from real statements.
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