Semtech Sells Off Unit To Rambus

Camarillo-based analog and mixed signal semiconductor developer Semtech Corporation said on Monday that it has agreed to divest its Snowbush intellectual property (IP) business--which develops designs for high speed serial networking interfaces--to Rambus. Semtech said Rambus will pay $32.5M in cash, along with a future royalty through 2022 based on sales. Semtech said the sale was part of an effort to exist business which it says are no longer aligned with the company's long term strategy. Semtech's Snowbush IP was developed at the company's Toronto, Canada, San Jose, CA, Aguascalientes, Mexico, and Bhubaneswar, India locations, and primarily focused on SerDes (serial/deserialization) cores used in ASICs, Systems-on-a-chip (SoC), and other platforms.