Rumble Inc (NASDAQ:RUM), the video platform behind Truth Social, will acquire Germany’s Northern Data for about $767 million in shares.
The US company will swap 2.0281 new Class A shares for each Northern Data share, a 12.99% discount to Friday’s close.
The all-stock structure means no cash changes hands; Northern Data holders will own 30.4% of Rumble when the deal completes, expected in the second quarter of 2026, after which Northern Data will delist.
The package includes a $150 million graphics-processing-unit (GPU) leasing agreement with Tether, Rumble’s 48% shareholder and planned anchor customer, plus $200 million of tax-liability support from Rumble.
Rumble will add 22,400 Nvidia GPUs. Northern Data may pay $200 million to shareholders if it sells its Corpus Christi data centre pre-closing.