Verimatrix, a global provider of security and analytics solutions that protect devices, services and applications, has executed the asset purchase agreement related to the sale of its Silicon IP and Secure Protocols business unit to Rambus for a transaction consideration of $65 million (€58.9m) in cash.

The transaction aims at increasing Verimatrix focus as a pure player in software-based security and business intelligence solutions with revenue in excess of $100 million1. It also increases its financial flexibility thanks to a strong balance-sheet to seize external growth opportunities and keep on building a major player in software-based security

The transaction is expected to close in the fourth quarter of 2019 subject to customary closing conditions.

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