🚀 Rumble Considers $1.17 Billion Acquisition of Northern Data
#Rumble #Acquisition #NorthernData #CloudComputing #AI #Tether #DataCenter
According to Foresight News, U.S. video platform and cloud service provider Rumble is contemplating a $1.17 billion acquisition of German AI cloud group Northern Data. Rumble announced that if the deal proceeds, it would gain control over Northern Data's cloud computing business, Taiga, and its large data center division, Ardent, with plans to integrate these into its operations.
Northern Data's board is currently evaluating Rumble's potential acquisition offer and has expressed willingness to engage in further discussions. Additionally, stablecoin platform Tether, a major shareholder in Northern Data, has shown support for the proposed transaction.#Rumble #Acquisition #NorthernData #CloudComputing #AI #Tether #DataCenter
🚀 Rumble and Northern Data Announce Merger Agreement
#Rumble #NorthernData #MergerAgreement #AI #CloudComputing #HighPerformanceComputing #GPU #Tether #Acquisition #PublicExchangeOffer #StockExchange #RegulatoryApprovals #MergersAndAcquisitions #ShareholderLoan #BusinessDeal #TechIndustry
According to BlockBeats, U.S. video and cloud platform Rumble has signed a business merger agreement with Frankfurt-listed AI and high-performance computing infrastructure company Northern Data. Rumble plans to initiate a voluntary public exchange offer for all outstanding shares of Northern Data.
This merger will provide Rumble with one of Europe's largest GPU asset portfolios, enhancing its presence in the cloud computing and artificial intelligence sectors. The deal also strengthens Rumble's collaboration with Tether, which has committed to providing substantial customer and commercial support for the transaction.
Under the acquisition offer, each Northern Data share can be exchanged for 2.0281 newly issued Rumble Class A shares, with no minimum acceptance threshold. This means the transaction can proceed even if only a few shareholders accept the offer. However, this exchange ratio is lower than the 2.319 shares proposed when Rumble first announced the acquisition plan in August, which valued the potential deal at approximately $1.17 billion.
The transaction is expected to be completed in the first or second quarter of 2026, subject to regulatory approvals and other conditions. Upon completion, Northern Data shares will be delisted. If all outstanding shares participate in the exchange, Northern Data shareholders will own about 30.4% of the merged company. Additionally, Rumble will assume Northern Data's approximately €610 million ($705 million) shareholder loan owed to Tether. Half of this loan will be converted into Rumble shares at $7.88 per share, while the remaining portion will be refinanced through a new secured loan provided by Tether.#Rumble #NorthernData #MergerAgreement #AI #CloudComputing #HighPerformanceComputing #GPU #Tether #Acquisition #PublicExchangeOffer #StockExchange #RegulatoryApprovals #MergersAndAcquisitions #ShareholderLoan #BusinessDeal #TechIndustry
🚀 Northern Data Sells Bitcoin Mining Business for Up to $200 Million
#NorthernData #BitcoinMining #Tether #PeakMining #GiancarloDevasini #PaoloArdoino #HighlandGroupMining #Rumble #TaxFraud #EUInvestigation #BTC
According to BlockBeats, Northern Data, an AI data center company under Tether, has sold its Bitcoin mining business, Peak Mining, for up to $200 million. The buyer is a company controlled by Tether's founder Giancarlo Devasini and CEO Paolo Ardoino, including Highland Group Mining and 2750418 Alberta ULC.
Following the announcement of this transaction, Tether, which holds nearly 50% of shares in the conservative social platform Rumble, agreed to acquire Northern Data for approximately $767 million. Earlier this year, Northern Data was subject to a surprise investigation by the European Union over allegations of large-scale tax fraud, which the company has denied, stating that it is cooperating with the investigation.#NorthernData #BitcoinMining #Tether #PeakMining #GiancarloDevasini #PaoloArdoino #HighlandGroupMining #Rumble #TaxFraud #EUInvestigation #BTC
🚀 Tether's Northern Data Sells Bitcoin Mining Business Amid Complex Financial Ties
#Tether #NorthernData #BitcoinMining #PeakMining #HighlandGroupMining #AppalachianEnergy #Devasini #Ardoino #Rumble #financialties #conflictsofinterest #AIDataCenter #investigation #VATfraud #BTC
According to ChainCatcher, Northern Data, a German AI data center operator partially owned by Tether, sold its Bitcoin mining business, Peak Mining, for up to $200 million in November. The buyers include Highland Group Mining and Appalachian Energy, companies whose directors are Tether co-founder Devasini and CEO Ardoino, highlighting potential conflicts of interest.
This transaction occurred shortly after Rumble, a social media platform in which Tether holds nearly a 50% stake, announced a $767 million acquisition of Northern Data.
The entities involved have intricate financial connections: Northern Data has a €610 million loan from Tether, and Tether has signed a $100 million advertising agreement and a $150 million GPU services procurement plan with Rumble. In September, Northern Data was investigated by European prosecutors for alleged VAT fraud exceeding €100 million.#Tether #NorthernData #BitcoinMining #PeakMining #HighlandGroupMining #AppalachianEnergy #Devasini #Ardoino #Rumble #financialties #conflictsofinterest #AIDataCenter #investigation #VATfraud #BTC