Thursday, August 5th | 27 Av 5781

March 11, 2019 6:27 pm

CEO of Israeli Chip-Maker Mellanox Says Public Will Benefit From $6.9 Billion Sale of Company

avatar by Benjamin Kerstein

The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. Photo: REUTERS/Tyrone Siu/File Photo.

The CEO of Israeli chip-maker Mellanox, which announced it’s $6.9 billion sale to tech company Nvidia on Monday, highlighted the positive impact the sale will have on the Israeli public.

In an interview with Hebrew news site Walla, CEO Eyal Waldman said, “I think the Israeli public will greatly enjoy the acquisition. There are many private individuals that hold [stock].”

A high percentage of the stock, he added, “is held by the Israeli public and institutions. We don’t have to be on the Tel Aviv stock exchange for Israelis to invest in the company.”

The company, Waldman said, will also continue to operate from Israel despite the sale: “We think it’s right for Mellanox … to stay as a half-independent entity that will work from Israel.”

He added that most Israeli operations will remain unchanged, saying its workers, “Will stay in the same chair, the same office, the same managers and staff,” but with “better technologies than we have today.”

“The power of Nvidia, not only technological but also in business, will give Mellanox and its employees additional capabilities that are difficult for us to achieve today,” he said.

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