SiTime to Acquire Renesas’ Timing Business
View original at globenewswire.comSiTime to Acquire Renesas’ Timing Business Acquired Business Expected to Generate $300 Million in Revenue in 12 Months Post-Close, with 70% Gross MarginHigh-GrowthAIDatacenter-Comms Represents~75%ofAcquired Revenue Accelerates SiTime’s Path to $1 Billion of Revenue as the Premier Pure-Play Precision Timing Company Sign…
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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% confidenceThese applications are expected to represent more than 60% of SiTime's revenue post-acquisition
80% confidenceThe acquisition will deliver exceptional value for shareholders as the company builds on strong record of financial performance
80% confidenceThe acquisition is expected to be accretive to SiTime's non-GAAP earnings per share in the first year post-close
80% confidenceThis 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% confidenceThis milestone is another step forward toward Renesas' 2035 Aspiration and becoming a top-three embedded semiconductor solution supplier
80% confidenceIntegrating SiTime resonators into MCUs and power management ICs will provide size, performance and power benefits and create additional value for customers
80% confidenceThis acquisition is a monumental milestone toward fulfilling our vision to transform the timing market and solve our customers' toughest timing challenges
80% confidenceSiTime's strong cash flows are expected to support rapid de-levering to less than 2x within 24 months post-close
80% confidenceThe 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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