“With the close of this acquisition, Renesas has transformed into an industry powerhouse with one of the most comprehensive set of advanced embedded solutions. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.“I am excited to welcome the Intersil employees into the Renesas Group and look forward to building a robust organization that will bring the capabilities of both companies to bear to proactively address changing market dynamics and customer needs,” said Bunsei Kure, Representative Director, President and CEO of Renesas Electronics Corporation. As previously announced in September 2016, Renesas anticipates that near- and long-term revenue expansion opportunities combined with the modest anticipated cost efficiencies associated with greater scale will eventually generate synergies of US$170 million (approximately 17 billion yen at an exchange rate of 100 yen to the dollar). We believe that this compelling and complementary combination will enable significant synergies and cross-selling opportunities and contribute to creating superior value for our customers and stakeholders." This follows July's announcement that Analog Devices (ADI) will acquire Linear Technology Corp. (LTC) for $14.8 billion. The transaction is expected to immediately increase Renesas’ gross and operating margins and be accretive to Renesas’ non-GAAP earnings per share and free cash flows after closing.Renesas also plans to continue operations at Intersil’s production facility in Palm Bay, Florida, U.S and Intersil’s home office in Milpitas, California, U.S., as well as the design centers and sales and support organizations serving Intersil customers globally.“I am excited to welcome the Intersil employees into the Renesas Group and look forward to building a robust organization that will bring the capabilities of both companies to bear to proactively address changing market dynamics and customer needs,” said Bunsei Kure, Representative Director, President and CEO of Renesas Electronics Corporation.

Renesas beat out Maxim in 2016 to acquire Intersil, a semiconductor company whose chips are used in mobile and infrastructure applications, for $3.2 billion. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Renesas Electronics Corporation and Intersil Corporation today announced the completion of Renesas' acquisition of Intersil Corporation. Renesas beat out Maxim in 2016 to acquire Intersil, a semiconductor company whose chips are used in mobile and infrastructure applications, for $3.2 billion.

The acquisition combines two long-standing industry leaders in their respective segments. Dr. Necip Sayiner joined Renesas’ executive team, as of February 24, 2017, as Executive Vice President and will continue to lead Intersil as the President, Chief Executive Officer, and Director.Renesas will focus its efforts on achieving a smooth integration of the two companies and intends to continue technical support and future product development for Intersil’s industry-leading power management and precision analog solutions. Renesas completes Intersil acquisition.

Renesas has a market capitalization of about $20 billion, while Maxim is valued at more than $16 billion.A transaction would continue a multiyear wave of semiconductor consolidation driven by scale efficiencies, increasing demand from car companies and the rising costs of chip fabrication. "They were not based on a Renesas announcement. We believe that this compelling and complementary combination will enable significant synergies and cross-selling opportunities and contribute to creating superior value for our customers and stakeholders.”Renesas also plans to continue operations at Intersil’s production facility in Palm Bay, Florida, U.S. and Intersil’s home office in Milpitas, California, U.S., as well as the design centers and sales and support organizations serving Intersil customers globally.As previously announced in September 2016, Renesas anticipates that near- and long-term revenue expansion opportunities combined with the modest anticipated cost efficiencies associated with greater scale will eventually generate synergies of US$170 million (approximately 17 billion yen at an exchange rate of 100 yen to the dollar).

The transaction is expected to immediately increase Renesas’ gross and operating margins and be accretive to Renesas’ non-GAAP earnings per share and free cash flows after closing.The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice. Intersil Corporation (NASDAQ: ISIL), a wholly owned subsidiary of Renesas Electronics Corporation, is a leading provider of innovative power management and precision analog solutions. In connection with the closing of the transaction today, Intersil becomes a wholly-owned subsidiary of Renesas.

Intersil is an American semiconductor company headquartered in Milpitas, California. As of February 24, 2017, Intersil is a subsidiary of Renesas.

The completion of the Intersil Corporation acquisition in February 2017 enabled Renesas to add industry-leading power management and precision analog capabilities to its product portfolio.

Dr. Necip Sayiner joined Renesas’ executive team, as of February 24, 2017, as Executive Vice President and will continue to lead Intersil as the President, Chief Executive Officer, and Director.Renesas will focus its efforts on achieving a smooth integration of the two companies and intends to continue technical support and future product development for Intersil’s industry-leading power management and precision analog solutions.

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