Chip designer Rambus (RMBS.O) has agreed to purchase privately-held Cryptography Research, a security technology company, in a deal worth $342.5 million, adding to its portfolio of technology available for licensing. Cryptography Research, or CRI, owns and licenses security technology for network security, financial services and content protection, Rambus said in a statement. Los Altos, California-based Rambus, which designs and licenses high-speed memory chips, said it will pay $167.5 million in cash, along with 6.4 million of its shares and a $50 million payment to privately-held CRI's employees over three years. Shares of Rambus declined 2 percent in extended trade after after closing up 2.07 percent at $19.27.
Rambus Inc. (Rambus) is a premier technology licensing company. Shares of RMBS traded higher by 2.07% or $0.39/share to $19.27. In the past year, the shares have traded as low as $16.76 and as high as $25.50. On average, 781637 shares of RMBS exchange hands on a given day and today's volume is recorded at 543499.
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