Verimatrix Completes Sale of its Silicon IP Business Unit to Rambus
Aix-en-Provence, France and San Diego, USA, December 9, 2019 – Verimatrix (Euronext Paris: VMX), formerly known as Inside Secure, a global provider of security and analytics solutions that protect devices, services and applications, today announced the completion of the sale of its Silicon IP and Secure Protocols business unit to Rambus Inc. (NASDAQ: RMBS) for a total cash consideration of $65 million including an earn-out.
Verimatrix received an amount of $45m at closing and could receive an additional amount of up to $20 million, subject to completion of certain revenue targets for the transferred business for the calendar year 2020.
This transaction increases Verimatrix’ focus as a pure player in software-based security and business intelligence solutions, while substantially improving the company’s financial flexibility thanks to a strengthened balance-sheet. At completion of the transaction, Verimatrix’s net debt is estimated at $17.5 million and $(2.5) million in case the earn out is achieved in full (compared with net debt of $61.1 million as of June 30, 2019).
Shearman & Sterling (corporate law) and Constantin Pavleas Avocats (IP law) served as legal counsel to Verimatrix in connection with the transaction, and Wilson Sonsini Goodrich & Rosati (California) and Taylor Wessing (France) served as legal counsels to Rambus.
About Verimatrix
Verimatrix (Euronext Paris: VMX) is a trusted business partner providing software security and business intelligence solutions that protect content, applications, and devices across multiple markets. Many of the world’s largest service providers and leading innovators trust Verimatrix to protect systems that people depend on every day. With more than 20 years of experience and the top minds in the industry, the company is uniquely positioned to understand and proactively anticipate security and business challenges for customers. Verimatrix partners to provide innovative, customer-friendly solutions that are cost-effective, easy to deploy and supported with responsive customer service teams based worldwide. To learn more visit www.verimatrix.com.
|
Related News
- Rambus Completes Acquisition of the Verimatrix Silicon IP, Secure Protocols and Provisioning Business
- Verimatrix signs a binding agreement to sell its Silicon IP business unit to Rambus
- Verimatrix Enters into Exclusivity Agreement to Sell its Silicon IP Business Unit to Rambus
- Rambus Signs Agreement to Acquire Silicon IP and Secure Protocols Business from Verimatrix
- Rambus to Acquire Silicon IP and Secure Protocols Business From Verimatrix, Creating Global Authority in Semiconductor Security IP
Breaking News
- After TSMC fab in Japan, advanced packaging facility is next
- A System On Module (SoM) developed by Electra IC: BitFlex-SPB-A7 FPGA SoM
- Weebit Nano to demo its ReRAM technology on GlobalFoundries' 22FDX® platform
- SoC Secure Boot Hardware Engine IP Core Now Available from CAST
- QuickLogic and Zero-Error Systems Partner to Deliver Radiation-Tolerant eFPGA IP for Commercial Space Applications
Most Popular
- Former Moortec executives create chip monitor startup
- PrimisAI Unveils Premium Version of RapidGPT, Redefining Hardware Engineering
- Arteris Expands Ncore Cache Coherent Interconnect IP To Accelerate Leading-Edge Electronics Designs
- Arm Announces New Automotive Technologies to Accelerate Development of AI-enabled Vehicles by up to Two Years
- Arm's Broadest Ever Automotive Enhanced IP Portfolio Designed for the Future of Computing in Vehicles
E-mail This Article | Printer-Friendly Page |