Rambus To Buy PLDA

(RTTNews) - Rambus Inc. (RMBS), a provider of chips and silicon IP making data faster and safer, said it has signed an agreement to acquire PLDA, a provider of Compute Express Link and PCI Express digital solutions.

The transaction is expected to close in the third calendar quarter of 2021.

The company said the transaction will not materially impact 2021 results due to the expected timing of close and acquisition accounting. It expects the acquisition to be accretive in 2022.

Separately, Rambus said that it initiated an accelerated share repurchase program with Deutsche Bank AG, London Branch as counterparty, through its agent Deutsche Bank Securities to repurchase an aggregate of about $100 million of its common stock, with an initial delivery of approximately 4.0 million shares.

Separately, Rambus affirmed its guidance for the fiscal quarter ending June 30, 2021.