Rambus Up 12% After Signing Patent Agreement

Shares of Rambus RMBS are up nearly 12% after the company signed a patent licensing agreement with Nvidia NVDA. The agreement covers the use of Rambus patented innovations in a broad range of integrated circuit (IC) products offered by NVIDIA. In addition, the two companies have settled all outstanding claims, including resolution of past use of Rambus' patented innovations. The term of this agreement is five years; other details are confidential. “This is an important license agreement as it settles our differences and allows us to move forward with NVIDIA, the leader in visual and parallel computing,” said Harold Hughes, president and chief executive officer at Rambus. “Looking forward, we have the opportunity to focus on developing innovative solutions in concert with our licensees to help bring compelling, innovative products to market.”