Rambus To Buy Memory Interconnect Business From Inphi For $90 Mln

(RTTNews) - Rambus Inc. (RMBS) said it has agreed to acquire the Memory Interconnect Business from Inphi Corp. (IPHI) for $90 million in cash. The company noted that the combination will create a strong market position for memory chipset business.

The acquisition includes all assets of the Inphi Memory Interconnect Business including product inventory, customer contracts, supply chain agreements and intellectual property. Inphi is a provider of high-speed analog and mixed-signal semiconductor solutions.

The combined business will further strengthen Rambus' market position for memory buffer chip products and also amplify execution for future memory programs to meet the needs of the server, networking and data center market.

The transaction is expected to close during the third quarter of 2016. These acquired technologies will be part of the Rambus Memory and Interfaces Division.

In a separate statement, Inphi noted that the sale of the memory product business to Rambus for $90 million in cash is inclusive of a 12.5 percent escrow. The transaction will enable Inphi to focus its attention on the growing opportunity in the communications markets.