With the final regulatory approval of Renesas' acquisition of IDT, Renesas recently announced its organizational structure change plan. Under the plan, Renesas will accelerate the realization of the “One Global Renesas” goal by establishing the Internet of Things and Infrastructure sectors.
In order to achieve Renesas' sustainable growth in the semiconductor market and become the world's leading supplier of semiconductor solutions, Renesas acquired Intersil and its analog semiconductor devices business in February 2017, in particular power management ICs. With the completion of the IDT acquisition, Renesas will acquire IDT's expertise in analog semiconductor devices, including sensors, connectivity and wireless power, to further expand its product portfolio.
Following the acquisition of Intersil, Renesas continues to integrate Intersil into its business operations by adopting a cross-regional, global management approach to achieve a globally integrated organizational structure. The acquisition of IDT will further accelerate this process. In order to ensure the smooth integration of the business, Dr. Sailesh Chittipeddi, IDT’s current Executive Vice President, Global Operations and Chief Technology Officer, will serve as IDT President and CEO and Executive Vice President of Renesas from March 30, 2019.
In addition, in order to effectively and quickly integrate IDT business operations, Renesas will merge the current Industrial Solutions Business Unit ("IBU") with a broad-based Solution Business Unit ("BBU"), which oversees a wide range of The business includes various areas, including the non-automotive industry and infrastructure, forming a new Internet of Things and Infrastructure Business Unit ("IIBU"), effective July 1, 2019. Working with the current Automotive Solutions Business Unit (“ABU”) as the automotive business, the IIBU will strengthen its position as the second pillar of the Renesas business model. Dr. Sailesh Chittipeddi will lead the IIBU, which will work to accelerate the synergy between digital and analog by integrating the integration of IBU and BBU and IDT. The transition from the two business units of ABU and IIBU to the new organizational structure will enable Renesas to efficiently and quickly focus resources on products and solutions with high profit margins and cash generation, resulting in highly high-resolution solutions. Make it competitive, provide high added value, and achieve future growth in “One Global Renesas”.