Verimatrix To Sell Silicon IP And Secure Protocols Business Unit To Rambus

(RTTNews) - Verimatrix, formerly known as Inside Secure, said that it has entered into an exclusivity agreement to sell its Silicon IP and Secure Protocols or SIP business unit to Rambus Inc. (RMBS) for $65 million in cash.

The transaction is intended to be signed in the third quarter of 2019. It is expected to close in the fourth quarter of 2019 subject to customary signing and closing conditions.

The SIP business unit is a largely autonomous and hardware related business which generates $22 million revenue.

The SIP business unit provides intellectual property components, software toolkits and provisioning solutions to enable semiconductor manufacturers and fabless companies.