Cadence to Acquire Rambus PHY IP Assets
20 Julho 2023 - 5:05PM
Business Wire
Transaction to enrich Cadence’s established IP
portfolio and strengthen Rambus's focus on high-growth chips and
digital IP
Cadence Design Systems, Inc. (Nasdaq: CDNS) and Rambus Inc.
(Nasdaq: RMBS), a premier chip and silicon IP provider making data
faster and safer, today announced that they have entered into a
definitive agreement for Cadence to acquire the Rambus SerDes and
memory interface PHY IP business. Rambus will retain its digital IP
business, including memory and interface controllers and security
IP. The expected technology asset purchase also brings Cadence
proven and experienced PHY engineering teams in the United States,
India and Canada, further expanding Cadence’s domain-rich talent
base.
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“Memory and SerDes IP design and integration continues to be
integral to the design of AI, data center and hyperscale
applications, CPU architectures and networking devices, and the
addition of the Rambus IP and seasoned team further accelerates
Cadence’s Intelligent System Design strategy, which drives design
excellence,” said Boyd Phelps, senior vice president and general
manager of the IP Group at Cadence. “The acquisition of the Rambus
PHY IP broadens Cadence’s well-established enterprise IP portfolio
and expands its reach across geographies and vertical markets, such
as the aerospace and defense market, providing complete subsystem
solutions that meet the demands of our worldwide customers.”
“The accelerating momentum of AI and continued growth in the
data center is driving ever-increasing demand for memory and
security,” said Sean Fan, senior vice president and chief operating
officer at Rambus. “With this transaction, we will increase our
focus on market-leading digital IP and chips and expand our roadmap
of novel memory solutions to support the continued evolution of the
data center and AI.”
The transaction is expected to be immaterial to revenue and
earnings this year for each company. It is expected to close in the
third calendar quarter of 2023, subject to certain closing
conditions.
About Cadence
Cadence is a pivotal leader in electronic systems design,
building upon more than 30 years of computational software
expertise. The company applies its underlying Intelligent System
Design™ strategy to deliver software, hardware and IP that turn
design concepts into reality. Cadence® customers are the world’s
most innovative companies, delivering extraordinary products from
chips to boards to complete systems for the most dynamic market
applications, including hyperscale computing, 5G communications,
automotive, mobile, aerospace, consumer, industrial and healthcare.
For nine years in a row, Fortune magazine has named Cadence one of
the 100 Best Companies to Work For. Learn more at
www.cadence.com.
About Rambus
Rambus is a provider of industry-leading chips and silicon IP
making data faster and safer. With over 30 years of advanced
semiconductor experience, we are a pioneer in high-performance
memory subsystems that solve the bottleneck between memory and
processing for data-intensive systems. Whether in the cloud, at the
edge or in your hand, real-time and immersive applications depend
on data throughput and integrity. Rambus products and innovations
deliver the increased bandwidth, capacity and security required to
meet the world’s data needs and drive ever-greater end-user
experiences. For more information, visit rambus.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements regarding Cadence’s and Rambus’s financial outlook,
product development, business strategy and plans and market trends,
opportunities, positioning and the terms and conditions of the
proposed acquisition of the Rambus SerDes and memory interface PHY
IP business (the “Business”). These forward-looking statements are
based on current expectations, estimates, forecasts and
projections. Words such as “expect,” “anticipate,” “should,”
“believe,” “hope,” “target,” “project,” “goals,” “estimate,”
“potential,” “predict,” “may,” “will,” “might,” “could,” “intend,”
“shall” and variations of these terms and similar expressions are
intended to identify these forward-looking statements, although not
all forward-looking statements contain these identifying words.
These forward-looking statements are subject to a number of risks,
uncertainties and other factors, many of which are outside
Cadence’s control. For example, the market for Cadence’s products
may develop more slowly than expected or than it has in the past;
Cadence’s operating results may fluctuate more than expected, there
may be significant fluctuations in Cadence’s results of operations
and cash flows related to Cadence’s revenue recognition or
otherwise; a network or data security incident that allows
unauthorized access to Cadence’s network or data or Cadence’s
customers’ data could damage Cadence’s reputation; Cadence and
Rambus may fail to satisfy the closing conditions in a timely
manner or at all; risks associated with tax liabilities or changes
in U.S. federal tax laws or interpretations to which the proposed
transaction with Rambus or parties thereto are subject; Cadence may
fail to successfully integrate the Business; Cadence may fail to
realize the anticipated benefits of any combined operations with
the Business; Cadence may experience unanticipated costs of
acquiring or integrating the Business; the potential impact of
announcement or consummation of the proposed acquisition on
relationships with third parties, including employees, customers,
partners and competitors; Cadence may be unable to retain key
personnel; changes in legislation or government regulations could
affect the proposed acquisition or the other parties thereto; and
global economic conditions could deteriorate. Further information
on potential factors that could affect Cadence’s financial results
or its ability to close the proposed acquisition is included in
Cadence’s most recent reports on Form 10-K and Form 10-Q and
Cadence’s other filings with the Securities and Exchange
Commission. The forward-looking statements included in this press
release represent Cadence’s views as of the date of this press
release, and Cadence undertakes no obligation to update any
forward-looking statement in this press release.
© 2023 Cadence Design Systems, Inc. All rights reserved
worldwide. Cadence, the Cadence logo and the other Cadence marks
found at www.Cadence.com/go/trademarks are trademarks or registered
trademarks of Cadence Design Systems, Inc. All other trademarks are
the property of their respective owners.
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Cadence Newsroom 408-944-7039 newsroom@cadence.com
Cori Pasinetti Rambus Corporate Communications 650-309-6226
cpasinetti@rambus.com
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