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Rumble Eyes $1.17 Billion All-Stock Acquisition of Germany’s Northern Data

By  |  August 11, 2025

Rumble Inc., the conservative-leaning video platform, is considering an all-stock acquisition of German data center operator Northern Data AG in a deal that would value the target at roughly $1.17 billion, according to Bloomberg. The proposed purchase is part of Rumble’s broader ambition to expand into the cloud-computing sector, a market currently dominated by major Silicon Valley firms.

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    Per Bloomberg, Rumble’s offer involves issuing 2.319 new shares for each Northern Data share. This values Northern Data’s stock at about $18.27 per share, well below its Friday closing price of €23.02 ($26.81) in Frankfurt. If the transaction goes through, Northern Data shareholders would own roughly one-third of the combined business. Based on current market valuations, the merged company would be worth about $4.5 billion.

    This valuation falls significantly short of the as much as $16 billion Northern Data had targeted in discussions for a potential U.S. initial public offering of its AI cloud and data center units, Bloomberg reported. The company, originally focused on cryptocurrency mining, has since pivoted toward supplying infrastructure for artificial intelligence developers, seeking to meet surging demand for computing capacity in the sector.

    Read more: Rumble Adds David Boies to Legal Team in $2 Billion Antitrust Battle with Google

    Rumble, which went public in 2022 as an alternative to YouTube, has recently entered the cloud services market, launching offerings for third-party companies last year. The deal also has the backing of Tether, a privately held digital asset firm with a controlling interest in both companies. Tether invested in Northern Data in early 2024 and took a stake in Rumble in February.

    Shares of Northern Data fell as much as 29% in Frankfurt following the announcement, while Rumble’s stock climbed as much as 19% in New York trading.

    Source: Bloomberg