Rambus Closes Sale of Payments and Ticketing Businesses to Visa
October 22 2019 - 7:00AM
Business Wire
Divestiture reinforces Rambus’ focus on core
strength in semiconductor and accelerated growth in silicon IP and
chips
Rambus (NASDAQ: RMBS), a premier silicon IP and chip provider
dedicated to delivering data faster and safer, today announced the
completion of the previously-announced sale of its Payments and
Ticketing businesses to Visa (NYSE: V).
“With 30 years of experience pushing the envelope in
semiconductor design, we look toward a future of continued
innovation to carry on our mission of making data faster and
safer,” said Rambus president and CEO, Luc Seraphin. “We’re excited
to have found an acquirer that will provide the Payments and
Ticketing businesses a platform for continued success. Completing
this transaction is a critical step forward in refocusing and
accelerating the growth of our core semiconductor businesses.”
The sale marks another key milestone in the ongoing execution of
Rambus’ strategy, delivering on its core strengths in high-speed
interface IP and chips, and embedded security.
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About Rambus Inc.
Rambus is a premier silicon IP and chip provider that makes data
faster and safer. With 30 years of innovation, we continue to
develop the foundational technology for all modern computing
systems. Leveraging our semiconductor expertise, Rambus solutions
speed performance, expand capacity and improve security for today’s
most demanding applications. From data center and edge to
artificial intelligence and automotive, our interface and security
IP, and memory interface chips enable SoC and system designers to
deliver their vision of the future. For more information, visit
rambus.com.
Source: Rambus Inc.
Forward-looking statements
Information set forth in this press release, including
statements as to Rambus’ continued efforts to refocus its business
and execution and accelerate growth, 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; the plans, strategies and objectives of Rambus for
future refocused operations; anticipated operational and financial
results; 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/20191022005374/en/
Cori Pasinetti Rambus Corporate Communications t: (408) 462-8306
cpasinetti@rambus.com
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