Mellanox has apparently been under activist investor pressure to reduce their R&D expenses and pay more dividends. And then there was the rumors that Intel were interested, but apparently Nvidia in the end offered more.
From a HPC perspective I think it's good Nvidia got the deal, Intel is already a quite dominating force in that market, and if they'd have gotten the deal it wouldn't have surprised me if they would just have sunsetted it in favor of their own Omni-Path (which they could then develop at a leisurely pace due to lack of competition).
Though as I have mentioned before, I do wonder about the long-term prospects for Infiniband as a technology. Modern high-end ethernet does many of the same things with RDMA (RoCE), though I believe IB still has a latency advantage. And multipathing with ethernet is weird, seems both Trill and SPB are kind of dead, and most players seem to do multipathing at the L3 level (which might not be good for latency?). And in contrast to ethernet, IB is pretty much a single-player technology nowadays, so is the market big enough to bear the R&D costs to keep developing it?