Rambus, Toshiba ink memory chip deal, shares surge
Rambus Inc has agreed to let Toshiba Corp license its memory chip controller patents another five years, renewing an existing pact and sending Rambus' shares soaring.
Rambus shares surged 6 percent to $19.92 in after-hours trading from a regular-session close of $18.77 on the Nasdaq.
Rambus will receive royalty payments based on Toshiba's shipments of a plethora of memory chips that license its technology patents, Rambus said in a statement on Tuesday.
The Japanese company was one of Rambus' first licensees.
(Reporting by Edwin Chan; editing by Andre Grenon)
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