<SEC-DOCUMENT>0000950123-11-049491.txt : 20110512
<SEC-HEADER>0000950123-11-049491.hdr.sgml : 20110512
<ACCEPTANCE-DATETIME>20110512170409
ACCESSION NUMBER:		0000950123-11-049491
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110512
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110512
DATE AS OF CHANGE:		20110512

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RAMBUS INC
		CENTRAL INDEX KEY:			0000917273
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				943112828
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22339
		FILM NUMBER:		11836570

	BUSINESS ADDRESS:	
		STREET 1:		1050 ENTERPRISE WAY, SUITE 700
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94089
		BUSINESS PHONE:		408-462-8000

	MAIL ADDRESS:	
		STREET 1:		1050 ENTERPRISE WAY, SUITE 700
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94089
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f59204e8vk.htm
<DESCRIPTION>FORM 8-K
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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported)<BR>
May&nbsp;12, 2011</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Rambus Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">
(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD align="center" valign="top"><B>Delaware</B><BR>
(State or other jurisdiction of <BR>
incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000-22339</B><BR>
(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>94-3112828</B><BR>
(I. R. S. Employer<BR>
Identification No.)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
<B>1050 Enterprise Way, Suite&nbsp;700, Sunnyvale, California 94089</B><BR>

(Address of principal executive offices, including ZIP code)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
<B>(408)&nbsp;462-8000</B><BR>

(Registrant&#146;s telephone number, including area code)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
<B>Not Applicable</B><BR>

(Former name or former address, if changed since last report)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:</DIV>

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    <TD valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</TD>
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</DIV>

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    <TD valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</TD>
</TR>
</TABLE>
</DIV>

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    <TD valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
</TD>
</TR>
</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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<!-- link2 "Item&nbsp;1.01. Entry into a Material Definitive Agreement." -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;1.01</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Entry into a Material Definitive Agreement.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May&nbsp;12, 2011, Rambus Inc., a Delaware corporation (&#147;Rambus&#148;), Padlock Acquisition Corp., a
California corporation and wholly-owned subsidiary of Rambus (&#147;Merger Sub&#148;), Cryptography Research,
Inc., a California corporation (&#147;CRI&#148;), and the shareholder representative, entered into an
Agreement and Plan of Merger (the &#147;Merger Agreement&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the Merger Agreement, and subject to the satisfaction or waiver of certain conditions
set forth in the Merger Agreement, at the effective time of the merger (the &#147;Effective Time&#148;),
Merger Sub will merge with and into CRI, with CRI as the surviving corporation. In the
alternative, under certain circumstances, Rambus may elect to use an alternative form of
transaction structure determined by Rambus to have a substantially similar tax structure for Rambus
and the CRI shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In this transaction Rambus will pay approximately
$342,500,000, consisting of (i) $167,500,000 cash, (ii)&nbsp;approximately 6.4&nbsp;million shares of
Rambus common stock, par value $0.001 per share (&#147;Rambus Common Stock&#148;) (which was determined to be
equal to $125,000,000 divided by the average closing sales price per share of Rambus Common Stock
over the 15 business days prior to the signing date (the &#147;Average Share Price&#148;)), and (iii) 50,000,000 payable to CRI employees in cash
or Rambus common stock over three years following the closing of the merger (the &#147;Retention Bonus&#148;). Approximately
$40,000,000 of this consideration consisting of (i) $15,000,000 cash, and (ii)&nbsp;approximately 1.3
million shares of Rambus Common Stock (determined to be equal to $25,000,000 divided by the Average
Share Price), will be placed in escrow until December&nbsp;2012, subject to any claims, to fund any
indemnification obligations to Rambus following the consummation of the merger.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the Merger Agreement, the Retention Bonus shall be paid to
certain CRI employees and contractors that join Rambus following closing, subject to certain
eligibility and acceleration provisions, on each of the 12<sup>th</sup>, 24<sup>th</sup> and 36<sup>th</sup> month anniversaries of the closing date of the merger,
in amounts up to $16,666,666 in additional payments from the $50,000,000 retention bonus pool. The first retention bonus payment will be made in cash and
the following two payments will be made in either cash or shares of Rambus Common Stock at Rambus&#146;
election.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Merger Agreement contemplates that Rambus will file a registration statement on Form S-3
with the SEC, registering the Rambus Common Stock issued as part of the merger consideration for
resale.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Merger Agreement includes certain customary representations, warranties and covenants on
the part of CRI, Rambus and Merger Sub, including an obligation on the part of CRI to operate its
business in the ordinary course until the merger is consummated and a customary non-solicitation
clause. The Merger Agreement also contains certain conditions to closing and termination rights for
both Rambus and CRI.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consummation of the merger is subject to the expiration or termination of the applicable
waiting period under the Hart-Scott-Rodino Act of 1976, as amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The boards of directors of Rambus and CRI have approved the Merger Agreement, and a majority
of the holders of outstanding shares of CRI have approved the merger. In addition, shareholders of
CRI holding approximately 90% of the outstanding shares of CRI have executed customary voting
agreements supporting the transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Merger Agreement also includes various other provisions customary for transactions of this
nature. The foregoing is a summary of the material provisions of the Merger Agreement. This summary
is not intended to be complete and is qualified in its entirety by reference to the Merger
Agreement, which Rambus will file with the SEC. Stockholders of Rambus are not third-party
beneficiaries under the Merger Agreement and should not rely on the representations, warranties and
covenants or any descriptions thereof as characterizations of the actual state of facts or
condition of Rambus, CRI or any of their respective subsidiaries.
</DIV>
<!-- link2 "Item&nbsp;3.02 Unregistered Sales of Equity Securities." -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;3.02</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Unregistered Sales of Equity Securities.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information contained in Item&nbsp;1.01 is hereby incorporated into this Item&nbsp;3.02. In
accordance with the Merger Agreement, a portion of the consideration to be delivered to the former
securityholders of CRI consists of shares of Rambus Common Stock. These shares of Rambus Common
Stock will be issued pursuant to exemptions from registration provided by Section&nbsp;4(2) and/or
Regulation&nbsp;D of the 1933 Securities Act, as amended.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link2 "Item&nbsp;8.01 &#151; Other Events." -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;8.01</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>&#151; Other Events.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May&nbsp;12, 2011, Rambus Inc. issued a press release announcing that it has entered into an
agreement to acquire CRI as described under Item&nbsp;1.01 above. A copy of Rambus&#146; press release
announcing the execution of the Merger Agreement is attached to this report as Exhibit&nbsp;99.1. The
information in the press release that is an exhibit to this Current Report on Form 8-K shall not be
deemed &#147;filed&#148; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange
Act of 1934, as amended, regardless of any general incorporation language in such filing.
</DIV>
<!-- link2 "Item&nbsp;9.01. Financial Statements and Exhibits." -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;9.01</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Financial Statements and Exhibits.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(d)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Exhibits.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
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    <TD width="3%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
</TR>
<TR></TR>
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<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD valign="top" style="font-size: 10pt">&nbsp;</TD>
    <TD valign="top" style="font-size: 10pt"><DIV style="margin-left:0px; text-indent:-0px">Press Release of Rambus Inc., issued on May&nbsp;12, 2011.</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 " SIGNATURES" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">Date: May 12, 2011&nbsp;</TD>
    <TD colspan="3" align="left">Rambus Inc.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">                                          /s/ Satish Rishi
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><FONT style="white-space: nowrap">Satish, Rishi, Senior Vice President, Finance and</FONT>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 " Exhibit&nbsp;Index" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Exhibit&nbsp;Index</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit Title</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD valign="top" style="font-size: 10pt">&nbsp;</TD>
    <TD valign="top" style="font-size: 10pt"><DIV style="margin-left:0px; text-indent:-0px">Press Release of Rambus Inc., issued on May&nbsp;12, 2011.</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>f59204exv99w1.htm
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 14pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><IMG src="f59204f5920400.gif" alt="(Rambus logo)">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom"><B>NEWS RELEASE</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>RAMBUS SIGNS DEFINITIVE AGREEMENT TO ACQUIRE CRYPTOGRAPHY RESEARCH</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B><I>Accelerates strategy to aggressively grow annual revenues</I></B>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>SUNNYVALE, CA </B>&#151; <B>May&nbsp;12, 2011 </B>&#151; Rambus Inc. (NASDAQ: RMBS), one of the world&#146;s premier technology
licensing companies, today announced it has signed a definitive agreement to acquire privately-held
Cryptography Research, Inc. (CRI), a leading semiconductor security R&#038;D and licensing company.
Rambus plans to acquire CRI for an aggregate of $342.5&nbsp;million comprised of $167.5&nbsp;million in cash,
approximately 6.4&nbsp;million shares of Rambus stock, and $50&nbsp;million payable to CRI employees in cash
or stock over three years. This acquisition will expand the breadth of Rambus&#146; breakthrough
technologies available for licensing with complementary technologies from CRI that include patented
innovations and solutions for content protection, network security, anti-counterfeiting and
financial services. Rambus estimates that this acquisition will be accretive on a pro forma basis
in 2013.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;The addition of CRI&#146;s world-class security technology is a pivotal step in our strategy to extend
our IP leadership and aggressively drive our revenue growth,&#148; said Harold Hughes, president and
chief executive officer at Rambus. &#147;Combined with our complementary semiconductor, and lighting
and display technologies, we will create an unrivaled set of innovations and solutions critical for
a broad range of electronics, with particular focus on the fast growing mobile market.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Over five billion semiconductor products secured by CRI&#146;s technology are made under license
annually. CRI&#146;s licensees include leading semiconductor, electronics and services companies such
as Atmel, Infineon, Microsoft, NXP, Raytheon, Renesas, Samsung, STMicroelectronics, Toshiba, and
Visa. CRI is led by internationally renowned cryptographer and scientist Paul Kocher, whose
accomplishments include helping author the SSL 3.0 standard, discovering differential power
analysis (DPA), as well as developing techniques for securing electronic systems against DPA
attacks.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Rambus will provide our team the perfect home to continue development of technology which
addresses an increasingly complex range of security requirements,&#148; said Paul Kocher, president and
chief scientist of Cryptography Research. &#147;With many billions of connected devices conducting
electronic transactions, storing important personal data, and delivering copyrighted content, the
needs for security are paramount. Our passion is solving these challenging data security problems
through innovative cryptographic techniques to the benefit of our licensed customers and consumers
worldwide.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Key technologies developed and licensed by CRI include DPA countermeasures. DPA attacks involve
monitoring the fluctuating electrical power consumption of a target device and then using advanced
statistical methods to derive cryptographic keys and other secrets. With CRI&#146;s DPA
countermeasures, electronic systems and security devices, such as smart cards, are protected from
DPA attacks. Critical to electronic system security, DPA protection is now mandated for many government and commercial services.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, CRI offers anti-piracy and anti-counterfeiting solutions including CryptoFirewall&#153;
technology. The CryptoFirewall core is a separate, on-chip, hardware-based security block that
protects cryptographic keys and computations from attack. CryptoFirewall solutions can be used
across a broad spectrum of applications including Pay TV security and counterfeit protection of
printer consumables.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The boards of directors of both companies and a majority of the shareholders of CRI have approved
the acquisition. This acquisition is subject to review and approval pursuant to the
Hart-Scott-Rodino Act. Rambus anticipates the transaction will close this summer contingent upon
regulatory approvals and satisfying other conditions specified in the definitive agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Audio Conference Call and Webcast Scheduled<BR>
Rambus management will discuss this acquisition during a special conference call today at 2:30 p.m.<BR>
PT. The call will be webcast and can be accessed through the Rambus website. A replay will be<BR>
available following the call on Rambus&#146; Investor Relations website or for one week at the following<BR>
numbers: (800)&nbsp;642-1687 (domestic)&nbsp;or (706)&nbsp;645-9291 (international)&nbsp;with ID# 67805938.

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>About Rambus Inc.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Founded in 1990, Rambus is one of the world&#146;s premier technology licensing companies. As a company
of inventors, Rambus focuses on the development of technologies that enrich the end-user experience
of electronic systems. Its breakthrough innovations and solutions help industry-leading companies
bring superior products to market. Rambus licenses both its world-class patent portfolio, as well
as its family of leadership and industry-standard solutions. Headquartered in Sunnyvale,
California, Rambus has regional offices in North Carolina, Ohio, India, Germany, Japan, Korea, and
Taiwan. Additional information is available at www.rambus.com.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>About Cryptography Research, Inc.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cryptography Research, Inc. is a leading semiconductor security R&#038;D and licensing company.
Cryptography Research develops and licenses innovative technologies in areas including tamper
resistance, content protection, network security, and financial services. The company was
established in 1995 by internationally renowned cryptographer Paul Kocher. Cryptography Research
clients include many of the world&#146;s leading technology and media delivery companies. Security
systems designed by Cryptography Research engineers protect electronic commerce in the wireless,
telecommunications, financial, digital television, entertainment, consumer electronics, and
Internet industries.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Forward Looking Statements</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This press release contains forward-looking statements related to Rambus, CRI, the timing and
consummation of the acquisition of CRI and the potential benefits of the acquisition. Actual
events or results may differ materially from those contained in the forward-looking statements.
Please refer to the documents Rambus files from time to time with the SEC, including Rambus&#146; most
recent Form 10-K and Form 10-Q, as well as Rambus&#146; future filings. These SEC filings contain and
identify important factors that could cause results of the acquisition and related transactions to
differ materially from
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">those contained in Rambus&#146; forward-looking statements. Although Rambus believes that the
expectations reflected in the forward-looking statements are reasonable, Rambus cannot guarantee
future results, levels of activity, performance, or achievements. Rambus is under no duty to update
any of the forward-looking statements after the date of this press release to conform to actual
results.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">###
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">RMBSTN
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Press Contacts:</B><BR>
Linda Ashmore<BR>
Rambus Public Relations<BR>
(408)&nbsp;462-8411<BR>
lashmore@rambus.com

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




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