Brief: Verimatrix Sells Its Silicon IP Business Unit To Rambus

Verimatrix SA

09/12/2019 06:45

Dec 9 (Reuters) - Verimatrix Sa  VMX.PA :
    * VERIMATRIX COMPLETES SALE OF ITS SILICON IP BUSINESS UNIT
TO
RAMBUS
    * SALE FOR A TOTAL CASH CONSIDERATION OF $65 MILLION
INCLUDING AN
EARN-OUT
    * VERIMATRIX RECEIVED AMOUNT OF $45M AT CLOSING AND COULD
RECEIVE
ADDITIONAL AMOUNT OF UP TO $20 MILLION, SUBJECT TO COMPLETION OF
CERTAIN REVENUE TARGETS FOR TRANSFERRED BUSINESS FOR CALENDAR
YEAR 2020
    * VERIMATRIX'S NET DEBT IS ESTIMATED AT $17.5 MILLION AND
$(2.5)
MILLION IN CASE EARN OUT IS ACHIEVED IN FULL (COMPARED WITH NET
DEBT OF $61.1 MILLION AS OF JUNE 30, 2019)

Source text for Eikon:  ID:nBw2VBnJza 
Further company coverage:  VMX.PA 

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