NVIDIA snaps up PortalPlayer
Rather then take you right to the press release on this one, I will link Ars' take on Nvidia's purchase of PortalPlayer. It seems that this purchase is a bit outside of Nvidia's sweetspot. It looks like Nvidia wants to expand into the portable market now.
From the article:
PortalPlayer will give NVIDIA access to two markets it currently does not compete in—digital audio players and secondary laptop LCDs. NVIDIA also gets the company's expertise in designing chips for small devices. "With this acquisition, we are combining the two essential technologies of next-generation PMPs, PDAs, portable game players, and phones: PortalPlayer's innovative Application Processor technology and NVIDIA's industry-leading GPU technology," said NVIDIA CEO and president Jen-Hsun Huang. "With the products created through this combination, we intend to drive the next digital revolution, where the mobile device becomes our most personal computer."