The transaction is valued at roughly $1.17 billion. Under the terms of the offer, each Northern Data share would be exchanged for 2.319 newly issued shares of Rumble. The potential deal would result in around 33.3% total pro forma ownership in Rumble for Northern Data shareholders, Rumble said.

Tether, the issuer of the USDt stablecoin, and video platform Rumble proposed a joint bid to acquire all outstanding shares of Northern Data, aiming to take

Rumble Inc. is weighing an offer to buy German data center company Northern Data AG in an all-stock deal valuing the target at about $1.17 billion that would boost the conservative video service’s bid to become a cloud-computing provider.