Renesas Electronics Corporation and Dialog Semiconductor Plc announced the successful completion of Renesas’ acquisition of the entire issued and to be issued share capital of Dialog.
Renesas will fund the cash consideration payable to Dialog shareholders of approximately EUR 4.8 billion through a combination of debt, cash on hand and the proceeds of an equity offering.
“Today represents an important milestone for Renesas. This transaction builds on our long-term strategy to offer a complete set of solutions with more leading-edge analog and mixed signal products that deliver value and innovation to the customers,” said Hidetoshi Shibata, President & CEO of Renesas. “We are excited to welcome the talented team of Dialog employees, as well as the customers and suppliers of Dialog to the Renesas community. The combination augments engineering scale and delivers a diversified product portfolio across multiple, attractive end markets. Together, we are positioned to capitalize on an array of growing opportunities including the IoT, industrial, and automotive fields.”
With the transaction now closed, Dialog became a wholly owned subsidiary of Renesas. About 2,300 Dialog employees have joined Renesas Group.