Rambus Signs Agreement to Acquire Silicon IP and Secure Protocols Business from Verimatrix
September 11 2019 - 4:30PM
Business Wire
Rambus Inc. (NASDAQ: RMBS), a premier silicon IP and chip
provider making data faster and safer, today announced it has
signed an asset purchase agreement to acquire the Silicon IP and
Secure Protocols business of Verimatrix (Euronext Paris: VMX),
formerly Inside Secure, for $65 million in cash. With the proposed
acquisition, the world-class embedded security teams, products and
expertise from Verimatrix and Rambus will combine to create the
industry’s most comprehensive portfolio of silicon-proven security
IP and chip provisioning solutions.
As previously announced, the parties have entered into an
exclusivity agreement with respect to the proposed transaction as
of September 3, 2019. This acquisition is expected to close this
year and is subject to customary closing conditions, including
certain regulatory approvals.
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About Rambus Inc.
Dedicated to making data faster and safer, Rambus creates
innovative hardware, software and services that drive technology
advancements from the data center to the mobile edge. Our
architecture licenses, IP cores, chips, software, and services span
memory and interfaces, security, and emerging technologies to
positively impact the modern world. We collaborate with the
industry, partnering with leading chip and system designers,
foundries, and service providers. Integrated into tens of billions
of devices and systems, our products and technologies power and
secure diverse applications, including Big Data, Internet of Things
(IoT) security, mobile payments, and smart ticketing. For more
information, visit rambus.com.
Source: Rambus Inc.
Forward-looking statements
Information set forth in this press release, including
statements as to Rambus’ outlook and statements as to the expected
timing, completion and effects of the proposed acquisition,
constitute forward-looking statements within the meaning of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995.
These statements are based on various assumptions and the
current expectations of the management of Rambus and may not be
accurate because of risks and uncertainties surrounding these
assumptions and expectations. Factors listed below, as well as
other factors, may cause actual results to differ significantly
from these forward-looking statements. There is no guarantee that
any of the events anticipated by these forward-looking statements
will occur, or what effect they will have on the operations or
financial condition of Rambus. Forward-looking statements included
herein are made as of the date hereof, and Rambus undertakes no
obligation to publicly update or revise any forward-looking
statement unless required to do so by federal securities laws.
Major risks, uncertainties and assumptions include, but are not
limited to: the expected benefits and costs of the proposed
transaction; management’s plans relating to the proposed
transaction; the expected timing and completion of the proposed
transaction; statements of the plans, strategies and objectives of
Rambus for future operations; any statements regarding anticipated
operational and financial results; any statements of expectation or
belief; the risk that disruptions from the proposed transaction
will harm Rambus’ business; other factors described under "Risk
Factors" in Rambus’ Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q; and any statements of assumptions underlying
any of the foregoing. It is not possible to predict or identify all
such factors. Consequently, while the list of factors presented
here is considered representative, no such list should be
considered to be a complete statement of all potential risks and
uncertainties.
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version on businesswire.com: https://www.businesswire.com/news/home/20190911005720/en/
Cori Pasinetti Rambus Corporate Communications t: (408) 462-8306
cpasinetti@rambus.com
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