Combination of leading suppliers accelerates position in SerDes IP
and product offerings
SUNNYVALE, Calif.--(BUSINESS WIRE)--
Rambus
Inc. (NASDAQ:RMBS) today announced it has entered into a definitive
agreement to acquire the assets of Semtech's Snowbush IP for $32.5
million as well as additional payments based upon specific new product
sales through the end of 2022. Snowbush IP, formerly part of Semtech's
Systems Innovation Group, is a leading provider of silicon-proven,
high-performance serial link solutions. The acquisition strengthens
Rambus' position in high-growth spaces and meets customer needs in the
server, networking and data center market.
"Our strategy is to look for opportunities in critical segments that
will enhance our roadmap, especially in ways that will propel growth in
profitable markets," said Dr. Ron Black, president and chief executive
officer at Rambus. "By adding Snowbush IP into our portfolio, we are
bolstering our SerDes business and accelerating our product position.
This acquisition, along with our memory IP cores and chip business, will
further build upon the existing product opportunities and expand our
foundry partnerships."
Snowbush IP has a long history of providing advanced analog and
mixed-signal IP for ASSP, ASIC, and SoCs. The platform architectures
developed for advanced SerDes products, along with high-speed IP cores,
offer cost savings opportunities and can expand the Rambus product
offerings by integrating industry-leading IP cores, patents and other
assets.
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
and Rambus expects this acquisition to be accretive within 18-24 months.
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#
27758927.
Follow Rambus:
Company website: rambus.com
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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, expected addition to pro forma earnings within
18-24 months, growth opportunities of the SerDes market, and the ability
to bolster the Rambus IP and 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
View source version on businesswire.com: http://www.businesswire.com/news/home/20160606005356/en/
Racepoint Global
Hilary Costa, 415-694-6705
hcosta@racepointglobal.com
Source: Rambus Inc.
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