Business Wire

Verimatrix Completes Sale of its Silicon IP Business Unit to Rambus

Share

Regulatory News:

Verimatrix (Euronext Paris: VMX), formerly known as Inside Secure, a global provider of security and analytics solutions that protect devices, services and applications, today announced the completion of the sale of its Silicon IP and Secure Protocols business unit to Rambus Inc. (NASDAQ: RMBS) for a total cash consideration of $65 million including an earn-out.

Verimatrix received an amount of $45m at closing and could receive an additional amount of up to $20 million, subject to completion of certain revenue targets for the transferred business for the calendar year 2020.

This transaction increases Verimatrix’ focus as a pure player in software-based security and business intelligence solutions, while substantially improving the company’s financial flexibility thanks to a strengthened balance-sheet. At completion of the transaction, Verimatrix’s net debt1 is estimated at $17.5 million and $(2.5) million in case the earn out is achieved in full (compared with net debt of $61.1 million as of June 30, 2019).

Shearman & Sterling (corporate law) and Constantin Pavleas Avocats (IP law) served as legal counsel to Verimatrix in connection with the transaction, and Wilson Sonsini Goodrich & Rosati (California) and Taylor Wessing (France) served as legal counsels to Rambus.

About Verimatrix

Verimatrix (Euronext Paris: VMX) is a trusted business partner providing software security and business intelligence solutions that protect content, applications, and devices across multiple markets. Many of the world’s largest service providers and leading innovators trust Verimatrix to protect systems that people depend on every day. With more than 20 years of experience and the top minds in the industry, the company is uniquely positioned to understand and proactively anticipate security and business challenges for customers. Verimatrix partners to provide innovative, customer-friendly solutions that are cost-effective, easy to deploy and supported with responsive customer service teams based worldwide. To learn more visit www.verimatrix.com.

Supplementary non-IFRS financial information

Verimatrix uses performance indicators that are not strictly accounting measures in accordance with IFRS. They should be considered as additional information, which cannot replace any other strictly accounting-based operating or financial performance measure. Net cash/debt is defined as cash on hand, cash equivalents and short-term investments, less bank overdrafts, financial debt including notably obligations under IFRS 16 for finance leases, bank loans, private loan notes, and the debt component of the OCEANE convertible bonds due 2022.


1 See definition hereinafter

Contact information

Investor Relations
Richard Vacher Detournière
General Manager & CFO
+33 (0)4 42 905 905
finance@verimatrix.com

Contact Media
Kelly Foster
+1 619 224 1261
kfoster@verimatrix.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Zayed Sustainability Prize Opens Submissions for 2021 Edition27.1.2020 16:23:00 EETPress release

Following the recent celebration of the 10 winners of the 2020 awards during Abu Dhabi Sustainability Week, the Zayed Sustainability Prize has officially announced that its submissions process for the 2021 edition is now open. Accepting entries from today until May 21st, 2020, via its online portal, the UAE’s pioneering global award for rewarding impact, innovation, and inspiration – across five sustainability categories – saw a record-breaking number of submissions last year, with 2,373 entries received from 129 countries. H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Director General of the Zayed Sustainability Prize, said: “With a 12-year record of recognizing and rewarding excellent solutions, we are confident the Prize will continue to attract more of the world’s most dedicated innovators to submit their entries, in support of resolving the world’s most pressing sustainability challenges. “Inspired by Sheikh Zayed’s legacy of commitment to global sustainability and hum

Vision-MR Ablation Catheter Receives CE Mark27.1.2020 16:00:00 EETPress release

Imricor Medical Systems, Inc. (ASX:IMR) today announces that it has received CE mark approval for its Vision-MR Ablation Catheter and Vision-MR Dispersive Electrode. This follows earlier CE mark approval for Imricor to place its Advantage-MR EP Recorder/Stimulator System on the market in Europe. Imricor is the first and only company to offer cardiac ablation devices for use in the MRI environment. Imricor Chairman and CEO, Steve Wedan said, “We are absolutely thrilled to bring to market our products for performing cardiac catheter ablations guided by real-time MRI. “Receipt of CE mark approval marks a major accomplishment for the Imricor team, as we pursue our mission to improve the lives of people worldwide by delivering devices that enable iCMR procedures.” The Vision-MR Ablation Catheter is the Company’s prime product offering, specifically designed to work under real-time MRI guidance, with the intent of enabling higher success rates along with a faster and safer treatment compared

Iguazio Raises $24M to Accelerate Growth and Global Penetration of its Data Science Platform27.1.2020 15:00:00 EETPress release

Iguazio, the data science platform for real time machine learning applications, today announced that it has raised $24M of funding. The round was led by INCapital Ventures, with participation from existing and new investors, including Pitango, Verizon Ventures, Magma Venture Partners, Samsung SDS, Kensington Capital Partners, Plaza Ventures and Silverton Capital Ventures. The funds will be used by Iguazio to accelerate its growth and expand the reach of its data science platform to new global markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200127005301/en/ Iguazio co-founders Yaron Segev (left), Yaron Haviv, and Asaf Somekh. Photo: Yanai Yechiel The demand for AI applications is on the rise. According to Gartner, AI augmentation alone will create $2.9 trillion of business value in 2021. However, there are still many challenges in deploying AI solutions in an effective and scalable way. An estimated 87% of data scienc

Iguazio Deployed by Payoneer to Prevent Fraud with Real-time Machine Learning27.1.2020 15:00:00 EETPress release

Iguazio, the data science platform for real time machine learning applications, today announced that Payoneer, the digital payment platform empowering businesses around the world to grow globally, has selected Iguazio’s platform to provide its 4 million customers with a safer payment experience. By deploying Iguazio, Payoneer moved from a reactive fraud detection method to proactive prevention with real-time machine learning and predictive analytics. Payoneer overcomes the challenge of detecting fraud within complex networks with sophisticated algorithms tracking multiple parameters, including account creation times and name changes. However, prior to using Iguazio, fraud was detected retroactively, enabling customers to only block users after damage had already been done. Payoneer is now able to take the same sophisticated machine learning models built offline and serve them in real-time against fresh data. This ensures immediate prevention of fraud and money laundering with predictiv

Oasis Smart SIM Achieves Certification of HELIOS eUICC in Accordance With GSMA M2M Specifications27.1.2020 14:48:00 EETPress release

Oasis’ newly certified HELIOS eUICC Operating System can be used in any type of mobile device, whilst guaranteeing total security and interoperability with the rest of the eSIM ecosystem. This certification was done by an independent accredited laboratory following the GSMA SGP.16 v1.0 validation requirements and processes. Rigorous testing of HELIOS eUICC by a third-party lab verified the compliance with GSMA specifications and standard interoperability. The goal is to ensure that mobile network operators are able to use HELIOS eUICC in complete security and in a reliable manner. To address the market needs, HELIOS eUICC is available both as a software-only Operating System or preloaded into Secure Elements from leading semiconductor companies. Its complete interoperability ensures that HELIOS eUICC can be remotely managed by any Subscription Manager compliant with the GSMA specifications. Patrick Cao, Chief Operating Officer, said “We are proud to obtain this certification. This conf

A Better Alternative to Banking - ClubSwan.com27.1.2020 12:00:00 EETPress release

ClubSwan.com, the leader in membership driven financial solutions, further expands its innovative alternative banking capabilities to key global markets. As traditional financial institutions continually struggle to provide innovative and meaningful ways to bring value to individual and corporate customers and as digital assets/crypto currencies are experiencing global growth, ClubSwan.com continues to evolve to meet the efficiencies and demands that these new assets and our customers require and to which traditional banks have no answer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200127005046/en/ Instead, closed bank accounts, rejected transactions, crippling delays with customers receiving their funds (if at all) are all the norm with traditional banks. To add to this dilemma, the availability of trustworthy solutions where customers have peace of mind for both crypto assets and traditional currencies have been non-exi

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom