SUNNYVALE, Calif.--(BUSINESS WIRE)--
Rambus Inc. (NASDAQ:RMBS), one of the world's premier technology
licensing companies, today announced that it has completed an
accelerated share repurchase pursuant to a Share Repurchase Agreement to
repurchase $90 million of its common stock. Rambus Inc. repurchased 4.8
million shares at an average price of $18.88. The accelerated share
repurchase was announced on August 19, 2010 and is part of the Company's
ongoing share repurchase program.
"Share repurchases are a component of our ongoing commitment and focus
on shareholders. The execution of this contract resulted in the
repurchase of approximately 4% of the total shares outstanding at
favorable prices," said Satish Rishi, senior vice president and chief
financial officer at Rambus.
The Share Repurchase Agreement is part of the share repurchase program
previously authorized by the Board of Directors of the Company. Through
the calendar year 2010, Rambus has repurchased 9.5 million shares at an
average price of $20.48. As of December 21, 2010, after giving effect to
the transaction under the Share Repurchase Agreement, there remained an
outstanding authorization under the share repurchase program to
repurchase approximately 5.2 million shares of the outstanding common
stock.
About Rambus Inc.
Rambus is one of the world's premier technology licensing companies.
Founded in 1990, the Company specializes in the invention and design of
architectures focused on enriching the end-user experience of electronic
systems. Rambus' patented innovations and breakthrough technologies help
industry-leading companies bring superior products to market. Rambus
licenses both its world-class patent portfolio, as well as its family of
leadership and industry-standard solutions. Headquartered in Sunnyvale,
California, Rambus has regional offices in North Carolina, Ohio, India,
Germany, Japan, Korea, and Taiwan. Additional information is available
at www.rambus.com.
RMBSFN
Rambus Public Relations
Linda Ashmore, 408-462-8411
lashmore@rambus.com
Source: Rambus Inc.
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