Rambus Completes Sale of PHY IP Assets to Cadence

SAN JOSE, Calif.-- September 7, 2023 -- Rambus Inc. (NASDAQ: RMBS) a premier chip and silicon IP provider making data faster and safer, today announced the completion of the previously announced sale of its PHY IP business to Cadence Design Systems, Inc. With this transaction, Rambus strengthens its focus on high-growth chips and digital IP, including novel memory solutions for high-performance computing, to support the continued evolution of the data center and AI.

Separately, Rambus affirmed its previously issued guidance for the fiscal quarter ending September 30, 2023, as set forth on the Current Report on Form 8-K furnished with the Securities and Exchange Commission on July 31, 2023.

About Rambus Inc.

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.