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Rambus buys security technology firm CRI
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SAN FRANCISCO (Reuters) - Chip designer Rambus (RMBS.O) has agreed to buy privately-held Cryptography Research, a security technology company, in a deal worth $342.5 million, adding to its portfolio of technology available for licensing.
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SAN FRANCISCO |
Thu May 12, 2011 8:24pm EDT
SAN FRANCISCO (Reuters) - Chip designer Rambus (RMBS.O) has agreed to buy privately-held Cryptography Research, a security technology company, in a deal worth $342.5 million, adding to its portfolio of technology available for licensing.
Cryptography Research, or CRI, owns and licenses security technology for network security, financial services and content protection, Rambus said in a statement.
Los Altos, California-based Rambus, which designs and licenses high-speed memory chips, said it will pay $167.5 million in cash, along with 6.4 million of its shares and a $50 million payment to privately-held CRI's employees over three years.
Shares of Rambus declined 2 percent in extended trade after
after closing up 2.07 percent at $19.27.
(Reporting by Noel Randewich; editing by Carol Bishporic)
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