3dfx shareholders approve deal to liquidate company and sell assets to NVIDIA
It's only a few years since 3dfx helped to kick-start the 3D gaming revolution with their Voodoo graphics cards, but after a string of poor financial results and product delays the company finally collapsed at the end of last year. Yesterday the company announced their last set of results, for the three months to the end of January 2001, showing revenues dropping by 83% compared to the same period the previous year and operating losses rising to almost $80m. Looking at the whole year revenues were down by 35% to $233m, while losses had risen a staggering 438% to $340m.
The most important part of the announcement was saved for last though. At a special meeting on Monday the company's shareholders voted in favour of the deal revealed in December, which will see 3dfx winding up its business and selling its prize assets - its technology, patents and brands - to former rivals NVIDIA. And so this marks the end of the road for 3dfx.