SiTime to Acquire Renesas’ Timing Business

What we drew from this source

The claims Via News extracted from this document. We point to the source; we don't replace it.

• The acquisition will increase SiTime's clocking portfolio by more than 10x and extend reach in fastest growing applications including comms, enterprise and datacenter

  80% confidence

• These applications are expected to represent more than 60% of SiTime's revenue post-acquisition

  80% confidence

• The acquisition will deliver exceptional value for shareholders as the company builds on strong record of financial performance

  80% confidence

• The acquisition is expected to be accretive to SiTime's non-GAAP earnings per share in the first year post-close

  80% confidence

• This transaction allows Renesas to sharpen its focus on embedded compute leadership while ensuring customers have access to SiTime's cutting-edge MEMS timing technology

  80% confidence

• This milestone is another step forward toward Renesas' 2035 Aspiration and becoming a top-three embedded semiconductor solution supplier

  80% confidence

• Integrating SiTime resonators into MCUs and power management ICs will provide size, performance and power benefits and create additional value for customers

  80% confidence

• This acquisition is a monumental milestone toward fulfilling our vision to transform the timing market and solve our customers' toughest timing challenges

  80% confidence

• SiTime's strong cash flows are expected to support rapid de-levering to less than 2x within 24 months post-close

  80% confidence

• The acquisition is expected to expedite SiTime's progress toward the upper end of its 60-65% gross margin target while maintaining targeted long-term annual revenue growth rate of 25-30%

  80% confidence

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