Rambus to acquire cryptography research company
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Technology licensing company Rambus is to acquire Cryptography Research (CRI), a leading semiconductor security R&D and licensing firm.
It plans to purchase CRI for an aggregate of $342.5million comprised of $167.5m in cash, approximately 6.4m shares of Rambus' stock, and $50m payable to CRI employees in cash or stock over three years.
CRI's patented innovations and solutions for content protection include network security, anti counterfeiting and financial services. More than 5billion semiconductor products secured by CRI's technology are made under license annually. CRI's licensees include Atmel, Infineon, Microsoft, NXP, Renesas, Samsung and STMicroelectronics.
"The addition of CRI's world class security technology is a pivotal step in our strategy to extend our IP leadership and aggressively drive our revenue growth," said Harold Hughes, pictured, president and chief executive officer at Rambus. "Combined with our complementary semiconductor and lighting and display technologies, we will create an unrivaled set of innovations and solutions critical for a broad range of electronics, with particular focus on the fast growing mobile market."
Rambus estimates that the acquisition will be accretive on a pro forma basis in 2013.
