---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-230180"
form_type: "8-K"
ticker: "RMBS"
cik: "0000917273"
company_name: "RAMBUS INC"
filed_at: "2023-09-07T23:59:59+00:00"
generated_at: "2026-06-10T23:09:59.798304+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Rambus completes sale of PHY IP business to Cadence for $110M cash

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-230180
- form_type: 8-K
- ticker: RMBS
- cik: 0000917273
- company_name: RAMBUS INC
- filed_at: 2023-09-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/917273/000119312523230180/0001193125-23-230180-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/917273/000119312523230180/d524084d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-230180
- JSON: https://secwatch.observer/filing/0001193125-23-230180.json
- Plain text: https://secwatch.observer/filing/0001193125-23-230180.txt

## Key facts
- M&A Transactions
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/917273/000119312523230180/0001193125-23-230180-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.