Japanese chip giant Renesas Electronics Corp. (TSE 6723) announced today that it has signed a definitive agreement to acquire the Israeli developer of Wi-Fi chipset solutions. Celeno Communications in a cash settlement of $ 315 million, including milestone payments.
Renesas said the deal has been unanimously approved by the boards of directors of both companies and should close by the end of calendar year 2021, subject to customary closing conditions.
Based in Ra’anana, Celeno has developed a wide range of wireless communication solutions, including advanced Wi-Fi chipset and software solutions, for high-performance home networks, smart buildings, business and industrial markets. Celeno produces the industry’s most compact chipsets for Wi-Fi 6 and 6E that provide robust Wi-Fi network performance and increased security with low latency and low power consumption.
Renesas said Celeno’s field-proven Wi-Fi and software capabilities are highly complementary and provide a combination that creates end-to-end end-to-end integrated solutions to address rapidly growing markets for low-power connectivity in IoT, infrastructure , industrial and automotive applications.
In addition to expanding the solutions offering, the acquisition also increases Renesas’ design and engineering scale with Celeno’s design center in Israel and by welcoming R&D staff based in Israel, Ukraine, India, China. , Taiwan and more.
Renesas CEO Hidetoshi Shibata said: “The transaction announced today underscores our continued commitment to improving the performance and efficiency of electronic systems. Building on our recently expanded connectivity portfolio following the acquisition of Dialog, the addition of Celeno provides us with more advanced Wi-Fi connectivity. capabilities to offer end-to-end connectivity solutions for both clients and access points. Renesas is now strongly positioned to capitalize on the growing opportunities arising from the massive increase in connectivity and the requirements created for today’s increasingly connected world. “
Celeno President and CEO Gilad Rozen added: “This is a compelling transaction for both our customers and our employees. Our depth and strength in connectivity combined with Renesas’ industry-leading portfolio of integrated solutions will allow us to, together, open up new areas of growth that it can target. Renesas will also provide us with the go-to-market capabilities to bring Celeno to a broader range of customers. “
WiFi chipmaker Celeno Communications raises $ 38 million
Celeno was founded in 2005 by Rozen and investors include Poalim Capital Markets, OurCrowd, Liberty Global, Cisco, Pitango Venture Capital, 83North, Vintage Investment Partners and Miven.
Posted by Globes, Israel Business News – en.globes.co.il – October 28, 2021.
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