Published :8/18/2021 4:16:25 AM
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London time on Monday (16th), Renesas Electronics announced on its official website that the Taiwan Fair Association of China has abandoned its review of its merger and acquisition Dialog. Therefore, if the British court approves the transaction at the hearing in August, it is expected that the merger and acquisition procedures will be completed. Will be in advance.
In February of this year, Renesas Electronics announced that it had agreed to acquire British chip designer Dialog at a price of 67.5 euros (approximately 524.65 yuan) per share in all cash for a total of approximately 4.9 billion euros (about 38 billion yuan). The transaction was originally scheduled to be completed before the end of this year.
By convention, the conclusion of the transaction still requires the approval of the anti-monopoly authorities of various governments.
However, Renesas pointed out on Monday that the current transaction has been approved by the United States, China, and Germany. If the transaction can be successfully approved by the British regulatory agency, it is expected that the merger and acquisition procedures will be completed by the end of August.
As countries around the world begin to strengthen the development of the semiconductor industry, some industry players have worried that Renesas’ acquisition of Dialog may be subject to strict scrutiny. However, as far as the current situation is concerned, the transaction process is very smooth.
International Electronics Business understands that Dialog is an innovative, highly integrated and energy-efficient mixed-signal IC provider, mainly serving many customers in the high-growth market segments of the Internet of Things, consumer electronics, and automotive and industrial end markets. At the same time, it is a supplier of power management IC for Apple iPhone and other models. In addition, Dialog also provides industry-leading wireless communication technology solutions. Therefore, Renesas hopes to provide mergers and acquisitions to combine the advantages of the two products and seize a larger share of the 5G base station, Internet of Things, industrial and automotive markets.
Prior to the merger and acquisition, the two companies had cooperated for more than a decade, and Dialog also said in August last year that it would cooperate with Renesas to develop an automotive computing platform.
Hidetoshi Shibata, President and Chief Executive Officer of Renesas, said: "This transaction is an important step in Renesas' rapid growth plan to achieve significant strategic and financial benefits following the previous acquisition.
Dialog has a strong innovation culture and good customer relationships, and serves fast-growing fields, including the Internet of Things, industrial and automotive fields. By bringing Dialog's talented team and expertise to Renesas, we will accelerate innovation for our customers and create sustainable value for our shareholders. "
