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.

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.

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