PortalPlayer has announced that NVidia has signed a definitive agreement to buy the company for approximately $357 million ($13.50 per each outstanding share of PortalPlayer common stock). PortalPlayer's media chips have historically been used in Apple's iPods, however the company has seen setbacks in recent quarters with rumored losses to Samsung (iPod Nano).
For its part, NVidia has been rumored to have secured the so-called "true" video iPod's 3D chip, and the acquisition of PortalPlayer may aid the company as it expands its embedded business.This also brings hopes of better graphics in the future for the iPod. Hey, in the future the graphics may be up to high definition, but for now, we can only dream.
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