Shearman & Sterling advised STMicroelectronics N.V. (ST) and certain of its subsidiaries in its sale to NVIDIA Corporation of substantially all of the assets of ST’s subsidiary, The Portland Group, Inc., and certain related assets held by other ST subsidiaries. The transaction closed on July 29, and financial terms of the transaction were not disclosed.

ST is a global leader in the semiconductor market, serving customers across the spectrum of sense and power and automotive products and embedded processing solutions.

Since 1993, NVIDIA Corporation has pioneered the art and science of visual computing. The company's technologies are transforming a world of displays into a world of interactive discovery—for everyone from gamers to scientists, and consumers to enterprise customers.

The Shearman & Sterling team included partners Michael Dorf (San Francisco-Mergers & Acquisitions), Larry Crouch (Palo Alto-Tax) and Richard Hsu (Palo Alto-Intellectual Property Transactions).