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Mergers and Acquistions News

Categories: Software

May 13th 2011, 11:28AM

Chip designer Rambus has announced this week that it is to acquire privately-held Cryptography Research in a deal with $342.5 million (£210.3 million.)

The California-based company, which designs and licenses high-speed memory chips, is hoping that the security technology company will boost its portfolio of technology available for licensing.

Cryptography Research, which is better known as CRI owns and licenses security technology for network security, financial services and content production.

As part of the deal, which was confirmed on Thursday, May 12, Rambus will pay $167.5 million in cash, as well as 6.4 million of its shares and a $50 million payment to CRI's employees over the next three years.

Paul Kocher, president at CRI, said: "Rambus will provide our team the perfect home to continue development of technology which addresses an increasingly complex range of security requirements."

Rambus also recently renewed its patent licensing agreement with Toshiba, meaning that the company will continue to receive royalties from the sale of its products used by Toshiba.
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