Sources say Tether-backed Rumble and Northern Data are close to reaching a merger agreement.

Rumble Inc. is pushing forward with its plan to acquire German data center company Northern Data AG in an all-stock transaction, valuing the target company at less than its $894 million market capitalization. Both companies are backed by stablecoin issuer Tether and are expected to announce the agreement in the coming days. If the deal goes through, it will help Rumble become a cloud computing service provider.