Combination creates strong market position for memory chipset business
SUNNYVALE, Calif.--(BUSINESS WIRE)--
Rambus Inc. (NASDAQ:RMBS) today announced it has signed a definitive
agreement to purchase the Memory Interconnect Business from Inphi
Corporation (NYSE:IPHI) for $90M in cash. The acquisition includes all
assets of the Inphi Memory Interconnect Business including product
inventory, customer contracts, supply chain agreements and intellectual
property. The combined business further strengthens Rambus' market
position for memory buffer chip products and amplifies execution for
future memory programs to meet the needs of the server, networking and
data center market.
"We are constantly evaluating ways to build upon our solid foundation
and grow our businesses in order to better meet the needs of today's
market dynamics," said Dr. Ron Black, president and chief executive
officer at Rambus. "By combining our buffer chip team with the Memory
Interconnect Business of Inphi, we are able to instantly gain a strong
market position and be well situated for future growth. This acquisition
brings existing product revenue, proven technology, and faster
time-to-market with a best-in-class memory technologies portfolio."
Inphi is a leading provider of high-speed analog and mixed-signal
semiconductor solutions, having created solutions that accelerate the
movement of data across a wide variety of applications in the server,
data center and computing markets. The combination of Inphi products and
Rambus server DIMM chipset offerings will provide fast, efficient
solutions and expand the Rambus product offerings.
This acquisition remains subject to customary closing conditions and is
expected to close during the third quarter of 2016. These acquired
technologies will be part of the Rambus Memory and Interfaces Division.
To learn more about Rambus and the Memory and Interfaces division, visit rambus.com/memory-and-interfaces.
Conference Call
Rambus management will host a conference call at 6:00 a.m. PT today to
discuss this acquisition. The call will be webcast and available online
at investor.rambus.com. A replay will be available following the call as
a webcast on the Rambus Investor Relations website and for one week at
the following numbers: (855) 859-2056 (domestic) or (404) 537-3406
(international) with ID# 43757903.
Follow Rambus:
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About Rambus Memory and Interfaces Division (MID)
The Rambus Memory and Interfaces Division develops products and services
that solve the power, performance, and capacity challenges of the
mobile, connected device, and cloud computing markets. Rambus enhanced
standards-compatible and custom memory and serial link solutions include
chips, architectures, memory and chip-to-chip interfaces, DRAM, IP
validation tools, and system and IC design services. Developed through
our system-aware design methodology, Rambus products deliver improved
time-to-market and first-time-right quality.
About Rambus Inc.
Rambus creates cutting-edge semiconductor and IP products, spanning
memory and interfaces to security, smart sensors and lighting. Our
chips, customizable IP cores, architecture licenses, tools, services,
training and innovations improve the competitive advantage of our
customers. We collaborate with the industry, partnering with leading
ASIC and SoC designers, foundries, IP developers, EDA companies and
validation labs. Our products are integrated into tens of billions of
devices and systems, powering and securing diverse applications,
including Big Data, Internet of Things (IoT), mobile, consumer and media
platforms. At Rambus, we are makers of better. For more information,
visit rambus.com.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 as
amended, including statements regarding the potential benefits and
incorporation of the acquired technologies into the Rambus Memory and
Interfaces division, growth opportunities of the buffer chip market, and
the ability to bolster the Rambus product offerings. These
forward-looking statements are based on current expectations, estimates,
assumptions and projections that are subject to change. Actual results
may differ materially from the forward-looking statements due to a
variety of factors including, but not limited to, risks and
uncertainties described from time to time in Rambus' annual report on
Form 10-K, quarterly reports on Forms 10-Q and other periodic filings
with the Securities and Exchange Commission. All forward-looking
statements are made as of the date of this press release and Rambus does
not undertake any obligation to update any forward-looking statements
based on new developments or changes in expectations.
RMBSFN
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Racepoint Global
Hilary Costa, 415-694-6705
hcosta@racepointglobal.com
Source: Rambus Inc.
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