Shares of Rambus ( RMBS) rose Wednesday after the company announced a deal to license patents governing computer memory circuits to Japan's Toshiba.

The licensing agreement covers memory controllers for Rambus' SDRAM and DDR SDRAM, two of Rambus' main technologies for computer memory.

"Toshiba was our first patent licensee and we are pleased to continue this long and valuable relationship with a trusted partner," Rambus said. "Our focus of licensing industry-leading companies with both our products and patents continues to help push the boundaries of what our collective engineering teams can accomplish. We look forward to many years of development with Toshiba."

Shares of Rambus closed at $22.77 Monday. In premarket trading Wednesday, they gained $1.13, or 5%, to $23.90.

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