UPDATE: Rambus, SK Hynix Announces Extension of License Deal to 2024

SK Hynix Inc. and Rambus Inc.

, today announced they have signed an amendment that extends the current agreement between the two companies through July 1, 2024 for use of Rambus memory-related patented innovations in SK Hynix semiconductor products. SK Hynix and Rambus signed the original agreement for a five-year term in June 2013. With this amendment and extension of the agreement for an additional six years, SK Hynix will continue making payments to Rambus averaging $12M per quarter for the next 36 quarters. In addition, SK Hynix has the option to renew the agreement for an additional three-year extension under the existing rate structure. Other terms and details of the agreement are confidential. "SK Hynix's decision of taking an early license extension is a proof point of our ability to provide continued value and technology innovation for leading semiconductor companies," said Dr. Ron Black, president and chief executive officer at Rambus. "This long-term agreement reaffirms our commitment to work collaboratively with customers, and other key players in the semiconductor industry, delivering technology and services that will further strengthen the growth of Rambus." Rambus continues to drive innovation in memory and interface designs, creating new technology architectures that address key trends in cloud computing, big data and Internet of Things (IoT). For additional information on Rambus and its memory, interface and security technologies, visit rambus.com.