Cadence to acquire Rambus PHY IP assets
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Cadence Design Systems (NASDAQ:CDNS)Â said on Thursday that it had entered into a definitive agreement to acquire Rambus (NASDAQ:RMBS)Â SerDes and memory interfaceÂ PHY IPÂ business.
Under the deal, CDNS will acquire RMBS' engineering teams inÂ the United States,Â India,Â andÂ Canada.
"Rambus will retain its digital IP business, including memory and interface controllers and security IP," the company said in a statement.
The companies expect the deal to be immaterial to their revenue and earnings for the year.
CDNS expects the deal to close in Q3 2023.