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Renesas closes Intersil acquisition

Renesas Electronics has completed its acquisition of Intersil; a move which it says brings together advanced technology and deep end-market expertise, while solidifying its position as a leading global supplier delivering advanced embedded systems to customers.

“I am excited to welcome the Intersil employees into the Renesas Group and look forward to building a robust organisation that will bring the capabilities of both companies to bear to proactively address changing market dynamics and customer needs,” said Bunsei Kure, Renesas Electronics’ president and CEO. “With the close of this acquisition, Renesas has transformed into an industry powerhouse with one of the most comprehensive set of advanced embedded solutions. We believe that this compelling and complementary combination will enable significant synergies and cross-selling opportunities and contribute to creating superior value for our customers and stakeholders.”

Dr Necip Sayiner will continue to lead Intersil as president, CEO and director. He has also been appointed an executive vice president of Renesas Electronics.

According to Renesas, it will continue operations at Intersil’s production facility in Florida its California office, as well as its other operations around the world.

Author
Graham Pitcher

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