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Rambus Initiates Accelerated Share Repurchase Program

SAN JOSE, Calif. – November 12, 2020 – Rambus Inc. (NASDAQ: RMBS), a premier silicon IP and chip provider making data faster and safer, today announced it has initiated an accelerated share repurchase program with Deutsche Bank AG, London Branch as counterparty, through its agent Deutsche Bank Securities Inc. (Deutsche Bank) to repurchase an aggregate of approximately $50 million of its common stock, with an initial delivery of approximately 2.7 million shares.

“This program is part of a balanced approach to delivering long-term value to our stockholders,” said Luc Seraphin, president and chief executive officer at Rambus. “Our strong balance sheet combined with the increasing demand for our solutions in data-intensive applications reinforces our confidence in the future growth of the company.”

Under the accelerated share repurchase program, Rambus will pre-pay to Deutsche Bank the $50 million purchase price for its common stock and, in turn, Rambus will receive an initial delivery of approximately 2.7 million shares of its common stock from Deutsche Bank within the first week of the program. The number of shares to be purchased ultimately by Rambus will be determined based on the volume weighted average price of the common stock during the terms of the transaction, minus an agreed upon discount between the parties. The program is expected to be completed within six months. The shares of common stock will be delivered by Deutsche Bank to Rambus on the third business day following the calculation period described above.

The accelerated share repurchase program is part of the broader 20 million share repurchase program previously authorized by the Rambus Board of Directors.

Rambus Reports Third Quarter 2020 Financial Results

  • Strong quarter, delivering on revenue, exceeding expectations for profit and generating $44.1 million in cash provided by operating activities
  • Memory interface chip quarterly revenue up 39% year over year; on track for over 50% full-year growth
  • Micron DRAM license extended for an additional 4 years
  • New stock repurchase program authorizes repurchase of 20 million shares

SAN JOSE, Calif. – November 2, 2020 – Rambus Inc. (NASDAQ:RMBS), a premier silicon IP and chip provider making data faster and safer, today reported financial results for the third quarter ended September 30, 2020. GAAP revenue for the third quarter was $56.9 million; licensing billings were $63.1 million, product revenue was $29.8 million, and contract and other revenue was $10.5 million. The Company also generated $44.1 million in cash provided by operating activities.

“With our sustained focus on cloud and data center markets, Rambus had a very solid third quarter driven by great execution across our businesses,” said Luc Seraphin, chief executive officer of Rambus. “Our proven track record of cash generation and ability to deliver on revenue and profit makes us well positioned for strong top-line growth in 2021.”

Business Review

The Company’s memory interface chip business had a solid quarter, continuing to significantly outpace market growth with a 39% increase in quarterly revenue year over year. This growth is driven by ongoing increases in market share in DDR4 and continued demand in cloud and data center. For the industry transition to DDR5, Rambus is in a leading position for qualification with the memory ecosystem and CPU partners in next-generation systems.

Growing complexity in SoC design across data center, AI and 5G markets continues to drive customer engagement for the Rambus Silicon IP business, with an increasing number of design wins in interface and security IP. Designed to meet the needs of the most demanding data center AI/ML workloads, Rambus leads the industry with the fastest, silicon-demonstrated HBM2E memory interface solution capable of running up to 4 Gbps.

Lastly, Rambus extended its DRAM license agreement with Micron for an additional four years. The extension maintains the existing financial terms of the agreement, providing Micron with a license to the Company’s extensive portfolio of memory interface patents through December of 2024.

Quarterly Financial Review – GAAPThree Months Ended
September 30,
(In millions, except for percentages and per share amounts)20202019
Revenue
Royalties$16.6$19.4
Product revenue29.821.4
Contract and other revenue10.516.6
Total revenue$56.9$57.4
Cost of product revenue$9.7$7.1
Cost of contract and other revenue$1.3$2.5
Amortization of acquired intangible assets (included in total cost of revenue)$4.3$3.0
Total operating expenses (1)$54.2$67.7
Operating loss$(12.5)$(22.9)
Operating margin(22)%(40)%
Net loss$(12.8)$(17.3)
Diluted net loss per share$(0.11)$(0.16)
Net cash provided by operating activities$44.1$25.6

 

(1)  Includes amortization of acquired intangible assets of approximately $0.2 million for each of the three months ended September 30, 2020 and 2019.

Quarterly Financial Review – Non-GAAP (including operational metric) (1)Three Months Ended
September 30,
(In millions)20202019
Licensing billings (2)$63.1$63.1
Product revenue$29.8$21.4
Contract and other revenue$10.5$16.6
Cost of product revenue$9.7$7.1
Cost of contract and other revenue$1.3$2.5
Total operating expenses$45.7$57.5
Interest and other income (expense), net$(0.6)$1.0
Diluted share count116114

 

(1)  See “Supplemental Reconciliation of GAAP to Non-GAAP Results” table included below. Note that the applicable non-GAAP measures are presented and that revenue, cost of product revenue and cost of contract and other revenue are solely presented on a GAAP basis.

(2) Licensing billings is an operational metric that reflects amounts invoiced to our licensing customers during the period, as adjusted for certain differences.

GAAP revenue for the quarter was $56.9 million, in line with expectations. The Company also had licensing billings of $63.1 million, product revenue of $29.8 million, and contract and other revenue of $10.5 million. Rambus had total GAAP cost of revenue of $15.3 million and operating expenses of $54.2 million. The Company also had total non-GAAP operating expenses of $56.7 million (which includes non-GAAP cost of revenue), below the low end of its expectations through its cost management actions. Due to the Company’s strong performance and cost management actions, its revenue was in line with expectations and its profit was at the high end of its expectations. The Company had GAAP diluted net loss per share of $0.11. The Company’s basic share count was 114 million shares and its diluted share count would have been 116 million shares.

Cash, cash equivalents, and marketable securities as of September 30, 2020 were $520.2 million, an increase of $34.1 million from June 30, 2020, mainly due to $44.1 million in cash provided by operating activities.

2020 Fourth Quarter Outlook

The Company will discuss its full revenue guidance for the fourth quarter of 2020 during its upcoming conference call. The following table sets forth fourth quarter outlook for other measures.

(In millions)GAAPNon-GAAP (1)
Licensing billings (2)$61 – $67$61 – $67
Product revenue$18 – $24$18 – $24
Contract and other revenue$9 – $15$9 – $15
Total operating costs and expenses$71 – $67$59 – $55
Interest and other income (expense), net$0($1)
Diluted share count117117

(1)  See “Reconciliation of GAAP Forward-Looking Estimates to Non-GAAP Forward-Looking Estimates” table included below. Note that the applicable non-GAAP measures are presented, and that revenue is solely presented on a GAAP basis.

(2) Licensing billings is an operational metric that reflects amounts invoiced to our licensing customers during the period, as adjusted for certain differences. This metric is the same for both GAAP and non-GAAP presentations.

For the fourth quarter of 2020, the Company expects licensing billings to be between $61 million and $67 million. The Company also expects royalty revenue to be between $12 million and $18 million, product revenue to be between $18 million and $24 million and contract and other revenue to be between $9 million and $15 million. Revenue is not without risk and achieving revenue in this range will require that the Company sign customer agreements for various product sales, solutions licensing among other matters.

The Company also expects operating costs and expenses to be between $71 million and $67 million. Additionally, the Company expects non-GAAP operating costs and expenses to be between $59 million and $55 million. These expectations also assume non-GAAP interest and other income (expense), net, of ($1 million), tax rate of 24% and diluted share count of 117 million, and exclude stock-based compensation expense ($7 million), amortization expense ($5 million), non-cash interest expense on convertible notes ($2 million) and interest income related to the significant financing component from fixed-fee patent and technology licensing arrangements ($3 million).

Conference Call

Rambus management will discuss the results of the quarter during a conference call scheduled for 2:00pm PT today. The call, audio and slides will be available online at investor.rambus.com and a replay will be available for the next week at the following numbers: (855) 859-2056 (domestic) or (404) 537-3406 (international) with ID# 2281104.

Non-GAAP Financial Information

In the commentary set forth above and in the financial statements included in this earnings release, the Company presents the following non-GAAP financial measures: operating expenses and interest and other income (expense), net. In computing each of these non-GAAP financial measures, the following items were considered as discussed below: stock-based compensation expense, acquisition-related costs and retention bonus expense, restructuring charges, impairment (recovery) of assets held for sale, amortization expense, non-cash interest expense and certain other one-time adjustments. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations from these results should be carefully evaluated. Management believes the non-GAAP financial measures are appropriate for both its own assessment of, and to show investors, how the Company’s performance compares to other periods. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. Reconciliation from GAAP to non-GAAP results is included in the financial statements contained in this release.

The Company’s non-GAAP financial measures reflect adjustments based on the following items:

Stock-based compensation expense. These expenses primarily relate to employee stock options, employee stock purchase plans, and employee non-vested equity stock and non-vested stock units. The Company excludes stock-based compensation expense from its non-GAAP measures primarily because such expenses are non-cash expenses that the Company does not believe are reflective of ongoing operating results. Additionally, given the fact that other companies may grant different amounts and types of equity awards and may use different option valuation assumptions, excluding stock-based compensation expense permits more accurate comparisons of the Company’s results with peer companies.

Acquisition-related costs and retention bonus expense. These expenses include all direct costs of certain acquisitions and the reported periods’ portion of any retention bonus expense associated with the acquisitions. The Company excludes these expenses in order to provide better comparability between periods as they are related to acquisitions and have no direct correlation to the Company’s operations.

Restructuring charges. These charges may consist of severance, contractual retention payments, exit costs and other charges and are excluded because such charges are not directly related to ongoing business results and do not reflect expected future operating expenses.

Impairment (recovery) of assets held for sale. These charges consist of non-cash charges (recoveries) to assets held for sale and are excluded because such charges are non-recurring and do not reduce the Company’s liquidity.

Amortization expense. The Company incurs expenses for the amortization of intangible assets acquired in acquisitions. The Company excludes these items because these expenses are not reflective of ongoing operating results in the period incurred. These amounts arise from the Company’s prior acquisitions and have no direct correlation to the operation of the Company’s core business.

Non-cash interest expense on convertible notes. The Company incurs non-cash interest expense related to its convertible notes. The Company excludes non-cash interest expense related to its convertible notes to provide more accurate comparisons of the Company’s results with other peer companies and to more accurately reflect the Company’s ongoing operations.

Income tax adjustments. For purposes of internal forecasting, planning and analyzing future periods that assume net income from operations, the Company estimates a fixed, long-term projected tax rate of approximately 24 percent for both 2020 and 2019, which consists of estimated U.S. federal and state tax rates, and excludes tax rates associated with certain items such as withholding tax, tax credits, deferred tax asset valuation allowance and the release of any deferred tax asset valuation allowance. Accordingly, the Company has applied these tax rates to its non-GAAP financial results for all periods in the relevant years to assist the Company’s planning.

On occasion in the future, there may be other items, such as significant gains or losses from contingencies that the Company may exclude in deriving its non-GAAP financial measures if it believes that doing so is consistent with the goal of providing useful information to investors and management.

Forward-Looking Statements

This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995, including those relating to Rambus’ expectations regarding operating results and business opportunities, growth in product and service offerings and product revenue, expected benefits of our merger, acquisition and divestiture activity and related integration, and financial guidance for the fourth quarter of 2020, including licensing billings and revenue estimates, operating costs and expenses, interest and other income (expense), net and estimated, fixed, long-term projected tax rates on a GAAP and non-GAAP basis, as appropriate. Such forward-looking statements are based on current expectations, estimates and projections, management’s beliefs and certain assumptions made by Rambus’ management. Actual results may differ materially. Rambus’ business generally is subject to a number of risks which are described more fully in Rambus’ periodic reports filed with the Securities and Exchange Commission, as well as the potential adverse impacts related to, or arising from, the Novel Coronavirus (COVID-19). Rambus undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

Rambus Inc.
Condensed Consolidated Balance Sheets
(In thousands)
(Unaudited)

 

 

September 30,
2020		December 31,
2019
ASSETS
Current assets:
Cash and cash equivalents$89,475$102,176
Marketable securities430,746305,488
Accounts receivable33,02544,039
Unbilled receivables141,341184,366
Inventories14,21810,086
Prepaids and other current assets16,22918,524
Total current assets725,034664,679
Intangible assets, net41,05254,900
Goodwill183,222183,465
Property, plant and equipment, net59,42544,714
Operating lease right-of-use assets29,96137,020
Deferred tax assets5,2494,574
Unbilled receivables, long-term260,404343,703
Other assets4,6715,931
Total assets$1,309,018$1,338,986
LIABILITIES & STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable$13,323$9,549
Accrued salaries and benefits15,71920,291
Deferred revenue14,95011,947
Income taxes payable, short-term20,00819,142
Operating lease liabilities4,5766,357
Other current liabilities22,30618,893
Total current liabilities90,88286,179
Long-term liabilities:
Convertible notes, long-term154,182148,788
Long-term operating lease liabilities35,97339,889
Long-term income taxes payable45,88260,094
Deferred tax liabilities15,13913,846
Other long-term liabilities8,71419,272
Total long-term liabilities259,890281,889
Total stockholders’ equity958,246970,918
Total liabilities and stockholders’ equity$1,309,018$1,338,986

Rambus Inc.
Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
(Unaudited)

Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Revenue:
Royalties$16,602$19,448$53,253$71,351
Product revenue29,76921,37792,22246,372
Contract and other revenue10,54416,57435,35946,357
Total revenue56,91557,399180,834164,080
Cost of revenue:
Cost of product revenue9,6617,10830,28117,845
Cost of contract and other revenue1,2672,4504,0008,268
Amortization of acquired intangible assets4,3363,01613,01610,686
Total cost of revenue15,26412,57447,29736,799
Gross profit41,65144,825133,537127,281
Operating expenses:
Research and development33,73341,486105,085119,995
Sales, general and administrative20,18226,52164,38776,835
Amortization of acquired intangible assets2361708322,409
Restructuring charges—1,3748364,233
Change in fair value of earn-out liability——(1,800)—
Impairment (recovery) of assets held for sale—(1,853)—15,137
Total operating expenses54,15167,698169,340218,609
Operating loss(12,500)(22,873)(35,803)(91,328)
Interest income and other income (expense), net3,4646,72714,43521,112
Interest expense(2,586)(2,497)(7,721)(7,302)
Interest and other income (expense), net8784,2306,71413,810
Loss before income taxes(11,622)(18,643)(29,089)(77,518)
Provision for (benefit from) income taxes1,157(1,312)2,4543,369
Net loss$(12,779)$(17,331)$(31,543)$(80,887)
Net loss per share:
Basic$(0.11)$(0.16)$(0.28)$(0.73)
Diluted$(0.11)$(0.16)$(0.28)$(0.73)
Weighted average shares used in per share calculation
Basic113,828111,315113,437110,633
Diluted113,828111,315113,437110,633

Rambus Inc.
Supplemental Reconciliation of GAAP to Non-GAAP Results
(In thousands)
(Unaudited)

Three Months Ended
September 30,
20202019
Total operating expenses$54,151$67,698
Adjustments:
Stock-based compensation expense(6,834)(7,388)
Acquisition-related costs and retention bonus expense(1,327)(3,052)
Amortization of acquired intangible assets(236)(170)
Restructuring charges—(1,374)
Recovery of assets held for sale—1,853
Non-GAAP total operating expenses$45,754 $57,567
Interest and other income (expense), net$878$4,230
Adjustments:
Interest income related to significant financing component from fixed-fee patent and technology licensing arrangements(3,289)(4,925)
Non-cash interest expense on convertible notes1,8231,725
Non-GAAP interest and other income (expense), net$(588)$1,030

Rambus Inc.
Reconciliation of GAAP Forward-Looking Estimates to Non-GAAP Forward-Looking Estimates
(In millions)
(Unaudited)

2020 Fourth Quarter OutlookThree Months Ended
December 31, 2020
LowHigh
Forward-looking operating costs and expenses$70.7$66.7
Adjustments:
Stock-based compensation expense(7.0)(7.0)
Amortization of acquired intangible assets

 

(4.6)(4.6)
Forward-looking Non-GAAP operating costs and expenses$59.1$55.1
Forward-looking interest and other income (expense), net$0.1$0.1
Adjustments:
Interest income related to significant financing component from fixed-fee patent and technology licensing arrangements(2.9)(2.9)
Non-cash interest expense on convertible notes1.81.8
Forward-looking Non-GAAP interest and other income (expense), net$(1.0)$(1.0)

Rambus Announces New Stock Repurchase Program

Board of directors authorizes repurchase of up to 20 million shares

SAN JOSE, Calif. – November 2, 2020 – Rambus Inc. (NASDAQ: RMBS), a premier silicon IP and chip provider making data faster and safer, today announced that its board of directors has approved a new stock repurchase program authorizing the repurchase of up to 20 million shares.

“The company has a long history of strong, sustained cash generation that provides a foundation for long-term growth, both organically and inorganically,” said Luc Seraphin, president and chief executive officer at Rambus. “The board’s decision to support a stock repurchase program underscores our commitment to managing our strong balance sheet for the benefit of our stockholders.”

Stock repurchases under the plan may be made through the open market, established plans or privately negotiated transactions in accordance with all applicable securities laws, rules, and regulations. There is no expiration date applicable to the plan.

This new stock repurchase program replaces the existing program and cancels the 3.6 million shares outstanding as part of the previous authorization.

Forward-Looking Statements

This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995, including those relating to Rambus’ announced new stock repurchase program. Such forward-looking statements are based on current expectations, estimates and projections, management’s beliefs and certain assumptions made by Rambus’ management. Actual results may differ materially. Rambus’ business generally is subject to a number of risks which are described more fully in Rambus’ periodic reports filed with the Securities and Exchange Commission, as well as the potential adverse impacts related to, or arising from, the Novel Coronavirus (COVID-19). Rambus undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

Rambus IPsec Packet Engine Secures 5G Networking at 10 Gbps

Highlights: 

  • Internet Protocol Security (IPsec) Packet Engine with integrated Data Plane Development Kit (DPDK) and companion key negotiation toolkit provides complete solution for securing 5G networking from 1 to 10 Gbps data rates
  • Easily integrates into SoCs for 5G base stations, core network, gateways and end points
  • Supports 3GPP, TLS, DTLS protocols, all relevant IPsec RFCs, and NIST-compliant algorithms

SAN JOSE, Calif. – Oct. 27, 2020 – Rambus Inc. (NASDAQ: RMBS), a premier silicon IP and chip provider making data faster and safer, today announced the availability of a high-performance IPsec Packet Engine with integrated DPDK and companion key negotiation toolkit capable of securing 5G network traffic at data rates from 1 to 10 Gbps. A complete IPsec solution, the packet engine can be easily integrated into SoCs for a broad range of 5G devices from base stations and cloud, to gateways and end devices. This new engine is optimized to support the required protocols up to 10 Gbps with the most efficient footprint.

5G offers ten times the throughput and one hundred times the capacity of 4G networks. This increased jump in performance is enabled through more powerful devices, software-defined networking and application virtualization. All of these create greater complexity and higher demands on network processors and CPUs with the impact of greater latency. Offloading cryptographic operations to a dedicated IPsec Packet Engine streamlines processing and enables network traffic to be moved securely at line rate. Along with IPsec, for base stations and gateways, the solution has configurations that allow simultaneous IPsec, 3GPP and TLS processing on the packet engine.

“A host of new real-time applications are possible with the speed and bandwidth of 5G networks,” said Neeraj Paliwal, vice president and general manager, Rambus Security. “By anchoring security in hardware with our new IPsec Packet Engine, data on 5G networks can flow at full speed and be safeguarded from attack.”

Benefits of the Rambus IPsec Packet Engines:

  • Secures 5G network traffic with IPsec protocol at data rates from 1 to 10 Gbps. For the core and cloud server, Rambus offers dedicated high-end solutions for MACsec and IPsec.
  • Provides complete solution with integrated DPDK and companion key negotiation tool kit.
  • Supports 3GPP, PDCP, TLS, SSL, DTLS, IPsec protocols, as well as a broad portfolio of NIST-compliant algorithms. As an option, the packet engine can be enhanced with country-specific security targeting SoCs for the global market, satisfying specific regional requirements.
  • Backed by renowned Rambus security expertise and support.
  • Easily integrates into SoCs designed for 5G base stations, cloud network devices, gateways and end point devices.

Availability
The Rambus IPsec Packet Engine is available today for licensing and integrating into SoC designs.

Additional Information
For more information on the Rambus Security IP, including the IPsec Packet Engine for 5G, please visit rambus.com/security/.

Rambus Advances HBM2E Performance to 4.0 Gbps for AI/ML Training Applications

Highlights: 

  • Fully-integrated HBM2E memory interface solution, consisting of verified PHY and controller, achieves industry’s fastest performance
  • New benchmark in performance supports accelerators requiring terabyte-scale bandwidth for artificial intelligence/machine learning (AI/ML) training applications
  • Partners with SK hynix and Alchip to develop 2.5D HBM2E memory system solution using TSMC N7 process and CoWoS® advanced packaging technologies
  • Offers unrivaled system expertise supporting customers with interposer and package reference designs to speed time to market

    Read first our primer on:
    HBM2E Implementation & Selection – The Ultimate Guide »

Figure 1 Rambus HBM2E Interface 4 Gbps Transmit Eye
Figure 1 Rambus HBM2E Interface 4 Gbps Transmit Eye

SAN JOSE, Calif. – Sept. 9, 2020 – Rambus Inc. (NASDAQ: RMBS), a premier silicon IP and chip provider making data faster and safer, today announced it has achieved a record 4 Gbps performance with the Rambus HBM2E memory interface solution consisting of a fully-integrated PHY and controller. Paired with the industry’s fastest HBM2E DRAM from SK hynix operating at 3.6 Gbps, the solution can deliver 460 GB/s of bandwidth from a single HBM2E device. This performance meets the terabyte-scale bandwidth needs of accelerators targeting the most demanding AI/ML training and high-performance computing (HPC) applications.

“With this achievement by Rambus, designers of AI and HPC systems can now implement systems using the world’s fastest HBM2E DRAM running at 3.6 Gbps from SK hynix,” said Uksong Kang, vice president of product planning at SK hynix. “In July, we announced full-scale mass-production of HBM2E for state-of-the-art computing applications demanding the highest bandwidth available.”

The fully-integrated, production-ready Rambus HBM2E memory subsystem runs at 4 Gbps without PHY voltage overdrive. Rambus teamed with SK hynix and Alchip to implement the HBM2E 2.5D system to validate in silicon the Rambus HBM2E PHY and Memory Controller IP using TSMC’s N7 process and CoWoS® (Chip-on-Wafer-on-Substrate) advanced packaging technologies. Co-designing with the engineering team from Rambus, Alchip led the interposer and package substrate design.

“This advancement of Rambus and its partners, using TSMC’s advanced process and packaging technologies, is another important achievement of our ongoing collaboration with Rambus,” said Suk Lee, senior director of the Design Infrastructure Management Division at TSMC. “We look forward to a continued partnership with Rambus to enable the highest performance in AI/ML and HPC applications.”

“Alchip brought a demonstrated track record of success in 7nm and 2.5D package design to this initiative,” said Johnny Shen, CEO of Alchip Technologies. “We’re extremely proud of our contributions to Rambus’ breakthrough achievement.”

Rambus has 30 years of high-speed memory design applied to the most demanding computing applications. Its renowned signal integrity expertise was key to achieving an HBM2E memory interface capable of 4 Gbps operation. This raises a new benchmark for meeting the insatiable bandwidth requirements of AI/ML training.

“With silicon operation up to 4 Gbps, designers can future-proof their HBM2E implementations and can be confident of ample margin for 3.6 Gbps designs,” said Matthew Jones, senior director and general manager of IP cores at Rambus. “As part of every customer engagement, Rambus provides reference designs for the 2.5D package and interposer to ensure first-time right implementations for mission-critical AI/ML designs.”

Benefits of the Rambus HBM2E Memory Interface (PHY and Controller):

  • Achieves the industry’s highest speed of 4 Gbps per pin, delivering a system bandwidth of 460 GB from a single 3.6 Gbps HBM2E DRAM 3D device.
  • Fully-integrated and verified HBM2E PHY and Controller reduces ASIC design complexity and speeds time to market
  • Includes 2.5D package and interposer reference design as part of IP license
  • Provides access to Rambus system and SI/PI experts helping ASIC designers to ensure maximum signal and power integrity for devices and systems
  • Features LabStation™ development environment that enables quick system bring-up, characterization and debug
  • Supports high-performance applications including state-of-the-art AI/ML training and high-performance computing (HPC) systems

For more information on the Rambus Interface IP, including our PHYs and Controllers, please visit rambus.com/interface-ip.

Rambus and Micron Extend Patent License Agreement

SAN JOSE, Calif. – Sept 3, 2020 – Rambus Inc. (Nasdaq: RMBS), a premier silicon IP and chip provider making data faster and safer, today announced it has extended its patent license agreement with Micron for an additional four years. The extension maintains the existing financial terms of the agreement and provides Micron with a license to the extensive portfolio of Rambus patents until December 1, 2024.

“We are very pleased Micron has extended their patent license agreement and with how our broader relationship has grown over time,” said Kit Rodgers, senior vice president of technology partnerships and corporate development at Rambus. “We look forward to our continued collaboration in the future.”