Rambus Completes Acquisition of Hardent

Rhea-AI Summary

Rambus Inc. (NASDAQ: RMBS) has completed the acquisition of Hardent, Inc., a leading SoC digital design firm, to enhance its CXL Memory Interconnect Initiative. This strategic acquisition aims to bolster Rambus's capabilities in developing advanced CXL-based solutions for cloud data centers. The integration of Hardent's expertise is expected to improve memory performance and capacity for data-intensive workloads. Importantly, the transaction is not projected to materially impact Rambus's financial results for 2022.

Positive

• Acquisition of Hardent enhances CXL development efforts.
• Strengthens Rambus's position in cloud data center solutions.
• Potential for improved memory performance and capacity.

Negative

• None.

Strengthens CXL Memory Interconnect Initiative and accelerates roadmap of data center solutions

SAN JOSE, Calif.--(BUSINESS WIRE)-- Rambus Inc.(NASDAQ: RMBS), a provider of industry-leading chips and silicon IP making data faster and safer, today announced the completion of the acquisition of Hardent, Inc. (“Hardent"), a leading SoC digital design company. CXL-based architectures will be critical to meet the increasing demands of cloud data centers. CXL memory expansion and pooling promise significant improvements in per-core memory performance and capacity for data-intensive workloads like AI/ML, and will deliver new efficiencies at scale through composable infrastructure. With extensive semiconductor experience, Hardent’s design expertise in advanced SoCs enhances the world-class Rambus engineering team and provides key resources to strengthen the Rambus CXL Memory Interconnect Initiative.

“Rambus is dedicated to advancing the new era of data center architectures, and ongoing investment and innovation in CXL-based solutions are key focus areas in our strategy,” said Luc Seraphin, president and CEO of Rambus. “Hardent’s advanced SoC design experience amplifies our CXL development efforts, and we are very pleased to welcome our new colleagues to the Rambus team.”

This transaction will not materially impact 2022 financial results.

For more information, visit rambus.com/hardent.

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About Rambus Inc.

Rambus is a provider of industry-leading chips and silicon IP making data faster and safer. With over 30 years of advanced semiconductor experience, we are a pioneer in high-performance memory subsystems that solve the bottleneck between memory and processing for data-intensive systems. Whether in the cloud, at the edge or in your hand, real-time and immersive applications depend on data throughput and integrity. Rambus products and innovations deliver the increased bandwidth, capacity and security required to meet the world’s data needs and drive ever-greater end-user experiences. For more information, visit rambus.com.

Forward-looking statements

Information set forth in this press release, including statements related to the potential of Hardent’s technology for Rambus and its roadmap, and the effects of the acquisition, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

These statements are based on various assumptions and the current expectations of the management of Rambus and may not be accurate because of risks and uncertainties surrounding these assumptions and expectations. Factors listed below, as well as other factors, may cause actual results to differ significantly from these forward-looking statements. There is no guarantee that any of the events anticipated by these forward-looking statements will occur, or what effect they will have on the operations or financial condition of Rambus. Forward-looking statements included herein are made as of the date hereof, and Rambus undertakes no obligation to publicly update or revise any forward-looking statement unless required to do so by federal securities laws.

Major risks, uncertainties and assumptions include, but are not limited to: the expected benefits and costs of the transaction; management’s plans relating to the transaction; the potential benefits, costs and results of CXL memory expansion and pooling; plans, strategies and objectives of Rambus for future operations; the successful integration of Hardent; Rambus’ anticipated operational and financial results, expected market share growth, and successful product development; the risk that disruptions from the transaction will harm Rambus’ business; and other factors described under "Risk Factors" in Rambus’ Annual Report on Form 10-K and Quarterly Reports on Form 10-Q; and any statements of assumptions underlying any of the foregoing. It is not possible to predict or identify all such factors. Consequently, while the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220524005498/en/

Cori Pasinetti

Rambus Corporate Communications

t: (650) 309-6226

cpasinetti@rambus.com

Source: Rambus Inc.

FAQ

What is the significance of Rambus's acquisition of Hardent?

The acquisition is designed to strengthen Rambus's CXL Memory Interconnect Initiative and enhance its cloud data center solutions.

How will the acquisition of Hardent impact RMBS stock?

The acquisition is not expected to materially impact Rambus's financial results for 2022, indicating a neutral effect on RMBS stock in the short term.

What are CXL-based solutions in relation to Rambus?

CXL-based solutions are critical for improving memory performance and capacity in data centers, especially for data-intensive workloads like AI/ML.

Who is Hardent and what expertise do they bring to Rambus?

Hardent is a leader in SoC digital design, and their expertise will enhance Rambus's engineering team and development efforts.