(Reuters) -Video platform Rumble is pushing ahead with an all-share offer to buy Germany's Northern Data, Bloomberg News reported on Sunday. The companies could announce the agreement in the coming
Rumble Moves Forward with All-Stock Acquisition of Northern Data
Rumble's Acquisition Strategy
(Reuters) -Video platform Rumble is pushing ahead with an all-share offer to buy Germany's Northern Data, Bloomberg News reported on Sunday.
Details of the Offer
The companies could announce the agreement in the coming days, the report said, citing people familiar with the matter, adding Northern Data shareholders will receive a lower stake than under initially proposed terms.
Impact on Northern Data
Rumble is considering lowering the exchange ratio for the deal to offer around two Rumble shares for every Northern Data share, the report said.
Role of Tether in the Deal
The German firm has a market capitalization of around 755.59 million euros ($881.17 million), according to data from LSEG.
Cryptocurrency group Tether, which currently owns 48% of Rumble, will forgo a substantial portion of a 575 million euro loan it had granted to Northern Data, the report said.
Reuters could not immediately verify the report. Northern Data, Rumble, and Tether did not immediately respond to requests for comment outside regular business hours.
Rumble, which hosts U.S. President Donald Trump's Truth Social, in August made an offer to acquire Northern Data, giving Rumble control of the German company's Taiga business and its large-scale data center arm, Ardent.
Reuters calculated the potential total deal value at approximately $1.17 billion.
In October, Northern Data withdrew its annual forecast, as the AI cloud company was evaluating potential strategic transactions and the graphics processing unit's market pricing dynamics.
($1 = 0.8575 euros)
(Reporting by Gursimran Kaur in Bengaluru; Editing by Chris Reese)
