Rambus And SK Hynix Extend License Agreement Till 2024

(RTTNews) - SK Hynix Inc. and Rambus Inc. (RMBS) announced they have signed an amendment that extends the current agreement between the two companies through July 1, 2024 for use of Rambus memory-related patented innovations in SK Hynix semiconductor products.

SK Hynix and Rambus signed the original agreement for a five-year term in June 2013.

With this amendment and extension of the agreement for an additional six years, SK Hynix will continue making payments to Rambus averaging $12 million per quarter for the next 36 quarters.

In addition, SK Hynix has the option to renew the agreement for an additional three-year extension under the existing rate structure. Other terms and details of the agreement are confidential.