Renesas Completes Acquisition of Integrated Device Technology
Summary
As previously announced, Renesas anticipates near- and long-term revenue growth from expanded opportunities, access to fast-growing industries, as well as cost savings from a larger business platform, which will bring innovation and improvements along with an expected positive financial impact in the region of US$250 million in non-GAAP operating income per year on a run-rate basis. Renesas expects the acquisition to be highly accretive to Renesas’ pro-forma non-GAAP gross margin, non-GAAP EPS (earnings per share) and free cash flows immediately after completion, consistent with prior guidance. “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. Renesas Electronics Corporation ( TSE: 6723 ) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, home electronics, office automation, and information communication technology applications that help shape a limitless future.