Cadence Design Systems, Inc. (Nasdaq: CDNS) and Rambus Inc. (Nasdaq: RMBS), a premier chip and silicon IP provider making data faster and safer, have announced that they have entered into a definitive agreement for Cadence to acquire the Rambus SerDes and memory interface PHY IP business. Rambus will retain its digital IP business, including memory and interface controllers and security IP. The expected technology asset purchase also brings Cadence proven and experienced PHY engineering teams in the United States, India and Canada, further expanding Cadence’s domain-rich talent base.

Latham & Watkins LLP represents Cadence in the transaction with a corporate deal team led by Bay Area partner Mark Bekheit and New York partner Ian Nussbaum, with associates Lauren Lefcoe, Tessa Bernhardt, Donna Kim, Ben Bouwman, and Rebecca Dixon. Advice was also provided on intellectual property matters by Bay Area partner Tony Klein and Bay Area counsel Arielle Singh, with associates Andrew Abokhair, Fiona Gillan, Lydia Lim, Caroline Bale, and Julian Savelski; on employee benefits matters by Bay Area partner James Metz, with associate James Robinson; on tax matters by Bay Area partner Grace Lee, with associates Gregory Conyers and Rasha Suleiman; on data privacy matters by Bay Area partner Robert Blamires, with associate Kathryn Parsons-Reponte; on regulatory matters by Bay Area partner Joshua Holian and Washington, D.C. counsel Patrick English; and on export controls and sanctions matters by Washington, D.C. counsel Ruchi Gill, with associate Elliot Hecht.