Rambus Signs Patent License Agreement With Qualcomm

(RTTNews) - Technology solutions company Rambus Inc. (RMBS) announced Wednesday that it has signed a comprehensive patent license agreement with Qualcomm Global Trading Pte. Ltd., a subsidiary of mobile chip maker Qualcomm Inc (QCOM). The financial terms of the deal were not disclosed.

In pre-market activity, Rambus shares are gaining $0.99 or 8.01 percent, and trading at $13.35.

The agreement provides Qualcomm and its units with access to innovative patented memory, interface, and security technologies from Rambus.

Ron Black, president and chief executive officer at Rambus, said, "This agreement highlights our ongoing commitment to providing access to valuable memory and security technologies to industry leaders. Engaging with Qualcomm with this agreement gives us an opportunity to collaborate with the broader industry to bring compelling solutions to the segment."