Los Altos, California, United States – 01/23/2006
Rambus Inc. (Nasdaq:RMBS), one of the worlds premier technology licensing companies specializing in high-speed chip interfaces, today announced that its Board of Directors has approved an increase in the authorization under the Company’s stock repurchase program, which has been in effect since October 2001. Rambus is authorized to repurchase up to an additional five million shares of its outstanding common stock over an undefined period of time, depending on market conditions, share price and other factors. This is in addition to the remaining current authorization for 1.6 million shares. The repurchases may be made on the open market, in block trades or otherwise and may include derivative transactions. The program may be suspended or discontinued at any time.
“Our ongoing stock repurchase program demonstrates the confidence we have in our company and shows our commitment to deliver long-term stockholder value,” said Harold Hughes, president and chief executive officer at Rambus. “Our strong balance sheet and cash generation capability allow us to simultaneously invest in our current business and repurchase stock.”
In October 2001, Rambus’ Board approved a stock repurchase program of its common stock principally to reduce the dilutive effect of future stock issuances, including from employee stock options. Since the beginning of the program, Rambus’ Board has authorized the repurchase of up to 19.1 million shares of its outstanding common stock. As of December 31, 2005, Rambus had repurchased 12.5 million shares of its common stock at an average price per share of $13.05.
About Rambus Inc.
Rambus is one of the world’s premier technology licensing companies specializing in the invention and design of high-speed chip interfaces. Since its founding in 1990, the company’s innovations, breakthrough technologies and integration expertise have helped industry-leading chip and system companies solve their most challenging and complex I/O problems and bring their products to market. Rambus’ interface solutions can be found in numerous computing, consumer, and communications products and applications. Rambus is headquartered in Los Altos, California, with regional offices in Chapel Hill, North Carolina; Bangalore, India; Taipei, Taiwan; and Tokyo, Japan. Additional information is available at www.rambus.com.