Rambus Completes Acquisition of the Verimatrix Silicon IP, Secure Protocols and Provisioning Business
December 09 2019 - 1:30AM
Business Wire
Creates industry’s most comprehensive portfolio
of silicon-proven security IP
Rambus Inc. (NASDAQ: RMBS), a premier silicon IP and chip
provider making data faster and safer, today announced the
completed acquisition of the silicon IP, secure protocols and
provisioning business from Verimatrix, formerly Inside Secure, for
$45 million at closing, and up to an additional $20 million,
subject to certain revenue targets for the transferred business for
the calendar year 2020. The combined portfolio of products,
including the secure silicon IP and provisioning solutions from
both companies, creates the most comprehensive silicon-proven
security IP portfolio in the industry.
“This acquisition is a natural fit for the company in line with
our areas of focus in semiconductor,” said Luc Seraphin, president
and CEO of Rambus. “The addition of this business from Verimatrix
augments our portfolio of mission-critical embedded security
products and expands our offerings for data center, AI, networking
and automotive.”
Although this transaction will not materially impact 2019
financial results due to the timing of close and acquisition
accounting, Rambus expects this acquisition to be accretive in
2020.
For more information, visit rambus.com/insidesecure.
Follow Rambus:
Company website: rambus.com Rambus blog: rambus.com/blog
Twitter: @rambusinc LinkedIn: www.linkedin.com/company/rambus
Facebook: www.facebook.com/RambusInc
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’ outlook and statements as to the expected
timing, completion and effects of the 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 transaction;
management’s plans relating to the 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 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/20191208005057/en/
Cori Pasinetti Rambus Corporate Communications t: (408) 462-8306
cpasinetti@rambus.com
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