The transaction is expected to close in the first half of 2017, following approval by Intersil shareholders and relevant government authorities.
The acquisition combines two long-standing industry leaders in their respective segments. Together, Renesas and Intersil's deep expertise across a range of cutting-edge technologies and end markets will enable the combined company to become a comprehensive embedded systems solutions provider for customers. By combining Renesas' microcontrollers and System-on-Chip (SoC) products and technologies with Intersil's power management and precision analog capabilities, Renesas will be well-positioned to address some of the most exciting opportunities in key areas such as automotive, industrial, cloud computing, healthcare, and the Internet of Things (IoT). The strong synergy of complementary products and customers, along with regional exposure, will create a larger entity and enhance its ability to serve customer requirements. The acquisition is also expected to expand Renesas' product lines, particularly for analog devices, where the market is projected to grow by approximately $3.9 billion by 2020.
Renesas anticipates that short- and long-term revenue expansion opportunities, combined with the expected cost efficiencies associated with greater scalability, will generate synergies of approximately $170 million over time. The transaction is expected to immediately increase both gross and operating margins.
“Renesas is accelerating its focus of resources on the automotive, industrial, infrastructure, and rapidly growing IoT segments to aggressively expand its global business and maintain its position as a leading supplier. Intersil’s broad portfolio of analog and power devices, as well as its strength in the automotive, industrial, and other segments, complement many of Renesas’ initiatives in these areas,” said Bunsei Kure, Representative Director, President, and CEO of Renesas Electronics Corporation. “We believe this attractive and complementary combination will bring significant synergies and cross-selling opportunities, as well as a system solution proposition that will pave the way for Renesas to strengthen its position as a leader in the global semiconductor market and deliver value to its customers with a unique product offering.”
“Intersil has been part of the industry’s evolution for many decades, carving out key niches and developing technology from the ground up, providing tangible benefits over competing solutions,” said Necip Sayiner, President, CEO, and Director of Intersil Corporation. “As we have embarked on our most recent transformation over the past three years, we have refined the company’s core capabilities and focused on areas where we are uniquely positioned to solve customer system challenges. The success of this strategy and the ability to enhance the company’s quality is what has brought us to this exciting phase. We see great potential in combining the Intersil and Renesas portfolios and achieving the scale that will provide a platform for accelerated growth.”.
Andreas Richter will replace Eugen Elmiger as CEO of the maxon Group in March 2027
The maxon Group will make a change in its executive leadership in March 2027. Eugen Elmiger will step down as CEO after 15 years at the helm of the company and will be replaced by Andreas Richter, currently Chief Operating Officer (COO) and Deputy CEO.
