Bullish indicating open at $55-$60, IPO prices at $37
Investing.com -- Shares of U.S. video platform and cloud services provider Rumble (NASDAQ:RUM) rose over 6% in premarket trading on Monday after the company confirmed it is considering an acquisition of German AI cloud group Northern Data (F:NB2).
The potential deal, valued at approximately $1.17 billion (1 billion euros), was acknowledged in statements from both companies.
If completed, the acquisition would give Rumble control of Northern Data’s GPU-rich cloud business, Taiga, as well as its large-scale data center division, Ardent.
Rumble plans to integrate both operations into its existing business structure.
The proposed transaction would significantly expand Rumble’s capabilities in the growing AI and cloud computing sectors.
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