Renesas Electronics Corporation, a supplier of semiconductor solutions, and Integrated Device Technology, a supplier of analog mixed-signal products, including sensors, connectivity and wireless power, today announced that Renesas has acquired IDT, following approvals by IDT shareholders and the relevant regulatory authorities.
With this acquisition of IDT, Renesas said it will now deliver an even broader range of technology and embedded solutions by combining IDT’s RF, high-performance timing, memory interface, real-time interconnect, optical interconnect, wireless power and smart sensors with Renesas microcontrollers, system-on-chips and power management ICs.
To immediately showcase how Renesas and IDT’s complementary product portfolios work together to deliver comprehensive solutions, Renesas and IDT developed 15 “Winning Combinations,” compelling Renesas-plus-IDT product combinations that capture and highlight the technological advantages Renesas and IDT provide as a combined company. Examples of Winning Combinations include IDT automotive timing plus Renesas R-Car processor solutions for automotive infotainment applications, an IDT gas sensor plus Renesas MCU for IoT building automation air quality control and other Winning Combinations for base station, wireline and server applications. To learn more about the Renesas and IDT Winning Combinations, visit www.renesas.com/solutions/idt.html.
As a result of the completion of the transaction, IDT became a wholly owned subsidiary of Renesas. Sailesh Chittipeddi, formerly of IDT, has joined Renesas’ executive team as Executive Vice President and will lead IDT as President and CEO. Renesas is committed to a smooth and swift integration of the two companies and continuation of technical support and future product development for IDT’s industry-leading analog mixed-signal products.
Renesas completed the transaction using about $6.3 billion, through a combination of cash on hand and debt financing.
“We are thrilled to welcome some of the industry’s best and brightest talent into our team to steer the future of innovation together,” said Bunsei Kure, Representative Director, President and CEO, Renesas. “This acquisition demonstrates our commitment to bringing more complete solutions to our customers around the globe as we strengthen our leadership position in the high-growth, data-driven economy markets of automotive, industrial/IoT and datacenter/communications infrastructure where our advanced data processing and analog/mixed-signal performance is crucial. We fully expect to continue to significantly outgrow our strategic market segments and drive profitability, allowing us to carry on creating superior value for our customers and shareholders.”
Edited by
Ken Briodagh
