Source disclosure: February 05, 2026
Renesas Electronics Corporation [6723.T]
TOKYO, Feb 5 (Kyodo) -- Renesas Electronics Corp., headquartered in Koto Ward, Tokyo, announced today that its subsidiary Renesas Electronics America Inc. has agreed to transfer its timing business to SiTime Corporation. The deal was approved by the company's board of directors on February 5, 2026, and both parties signed the final agreement on the same day.
This transaction is expected to be completed by the end of 2026 following customary closing conditions and regulatory approvals. Under the terms of the agreement, SiTime will acquire Renesas' timing business, which includes assets related to the timing products from other subsidiaries. The total value of the transaction is estimated at $3 billion (approximately ¥468 billion), payable through a combination of $1.5 billion in cash and approximately 4.13 million shares of SiTime common stock. The exact number of shares may vary based on the volume-weighted average price over ten trading days prior to the closing date, with a range between $308.67 and $417.61 per share.
The timing business being transferred has been a cornerstone of Renesas' operations since it acquired Integrated Device Technology, Inc. in 2019. Over several decades, this division has provided timing solutions across various markets including wireless infrastructure, networks, AI, data centers, industrial machinery, automotive, and consumer electronics. In fiscal year 2024, the timing business accounted for about 2.26% of Renesas' consolidated revenue, contributing $201.4 million out of a total of $8.93 billion.
In addition to the sale, Renesas and SiTime have also entered into a Memorandum of Understanding (MoU) to explore a partnership aimed at integrating SiTime’s MEMS resonators directly onto Renesas’ microcontrollers and system-on-chip devices. This collaboration could simplify design processes and reduce space requirements while enhancing performance and efficiency in next-generation intelligent devices. Both companies aim to develop new integrated solutions that combine Renesas' embedded computing technology with SiTime's high-precision MEMS timing technology at the silicon level. These efforts align with Renesas' broader strategic goals, including achieving top-three status among suppliers of embedded semiconductor solutions by 2035, with an aspiration to reach annual sales revenues exceeding $20 billion and a market capitalization six times higher than in January 2022.
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