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Electronics Production | May 13, 2011

Rambus to acquire Cryptography Research

Rambus has signed a definitive agreement to acquire privately-held Cryptography Research (CRI).
Rambus plans to acquire CRI for an aggregate of $342.5 million comprised of $167.5 million in cash, approximately 6.4 million shares of Rambus stock, and $50 million payable to CRI employees in cash or stock over three years.

“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, 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 will provide our team the perfect home to continue development of technology which addresses an increasingly complex range of security requirements,” said Paul Kocher, president and chief scientist of Cryptography Research. “With many billions of connected devices conducting electronic transactions, storing important personal data, and delivering copyrighted content, the needs for security are paramount. Our passion is solving these challenging data security problems through innovative cryptographic techniques to the benefit of our licensed customers and consumers worldwide.”

The boards of directors of both companies and a majority of the shareholders of CRI have approved the acquisition. This acquisition is subject to review and approval pursuant to the Hart-Scott-Rodino Act. Rambus anticipates the transaction will close this summer contingent upon regulatory approvals and satisfying other conditions specified in the definitive agreement.

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