Rambus Acquires Cryptography Research
Rambus, that positions itself as a premier technology licensing company, today announced it has signed a definitive agreement to acquire privately-held Cryptography Research (CRI), a semiconductor security R&D and licensing company.
Rambus plans to acquire CRI for an aggregate of $342.5 million comprised of $167.5 million in cash, approximately 6.4 million shares of Rambus stock, and $50 million payable to CRI employees in cash or stock over three years. This acquisition will expand the breadth of Rambus' technologies available for licensing with complementary technologies from CRI that include patented solutions for content protection, network security, anti-counterfeiting and financial services. Rambus estimates that this acquisition will be accretive on a pro forma basis in 2013.
Over five billion semiconductor products secured by CRI's technology are made under license annually. CRI's licensees include semiconductor, electronics and services companies such as Atmel, Infineon, Microsoft, NXP, Raytheon, Renesas, Samsung, STMicroelectronics, Toshiba, and Visa.
Rambus anticipates the transaction will close this summer contingent upon regulatory approvals and satisfying other conditions specified in the definitive agreement.
Source: Rambus
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