RAMBUS INC (RMBS): M&A transaction — Rambus completes sale of PHY IP business to Cadence for $110M cash

RAMBUS INC

Rambus sold SerDes and memory interface PHY IP assets to Cadence Design Systems for $110M cash, subject to adjustments.
Transaction strengthens Rambus' focus on high-growth chips and digital IP for data center and AI.
Rambus affirmed prior Q3 FY2023 guidance issued on July 31, 2023.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

RAMBUS INC completed a disposition involving Cadence Design Systems, Inc. for $110 million in cash (closed 2023-09-06).

Action: disposition
Counterparty: Cadence Design Systems, Inc.
Consideration: $110 million in cash
Closing: 2023-09-06

Exact text from the filing

interface PHY IP business (the “Business”) to Cadence Design Systems, Inc. (“Purchaser”). Under the Asset Purchase Agreement governing the transaction, Purchaser paid Rambus $110 million in cash, subject to certain adjustments, for the Business. In connection with the completion of the transaction, Rambus issued the press release attached hereto as Exhibit 99.1

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Source: SEC EDGAR

accession 0001193125-23-230180

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