NVidia To Buy PortalPlayer For $357 Million

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.