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 (approximately 624.0 billion yen at an exchange rate of 130 yen to the Euro) through a combination of debt, cash on hand and the proceeds of an equity offering of approximately 222.6 billion yen.

“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.”

The closing of the acquisition of Dialog, following the landmark acquisitions of Intersil and IDT, reinforces Renesas as a premier embedded solution provider. Renesas will expand its market presence with an even broader range of product portfolio by combining Dialog’s low-power mixed signal products, low-power Wi-Fi and Bluetooth® connectivity expertise, flash memory, battery and power management as well as its long-standing experience and in-depth knowledge in providing configurable mixed-signal (CMIC) solutions and more.

With the transaction now closed, Dialog became a wholly owned subsidiary of Renesas. About 2,300 Dialog employees have joined Renesas Group, and the two companies will work together to integrate both businesses.