Renesas Electronics CorpOTCPK - Current
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  • Mon, Sep. 12, 8:54 PM
    • Renesas Electronics (OTCPK:RNECF) agrees to acquire Intersil (NASDAQ:ISIL) for $22.50/share, a 14% premium to today's closing price, or ~$3.2B; ISIL +7.3% AH.
    • ISIL, whose chips are used in industrial, mobile and infrastructure applications, would expand Renesas' portfolio in analog chips and strengthen Renesas' nearly 40% share of the global market for microcontroller chips used in automobiles.
    • Renesas anticipates that near- and long-term revenue expansion opportunities combined with modest anticipated cost efficiencies associated with greater scale eventually will generate synergies of $170M/year.
    • Maxim Integrated Products (NASDAQ:MXIM) also was interested in purchasing ISIL, Reuters reports.
    | Mon, Sep. 12, 8:54 PM | 6 Comments
  • Wed, Aug. 31, 1:01 PM
    • An agreement could reportedly be announced as soon as next week, though sources note nothing is final and that Maxim Integrated Products (MXIM -0.1%) may still disrupt a deal.
    • Japan's Renesas Electronics (OTCPK:RNECFconfirmed last week it was discussing options with Intersil (ISIL +10.4%) regarding a takeover that could be valued at $3B.
    | Wed, Aug. 31, 1:01 PM | 8 Comments
  • Mon, Aug. 22, 4:26 AM
    • Japanese semiconductor firm Renesas (OTCPK:RNECF) has confirmed reports that it is in negotiations to acquire U.S.-based Intersil (NASDAQ:ISIL), which produces chips for automotive and aerospace customers.
    • A deal could be valued at around ¥300B ($3B), the reports said.
    • Last year, Intersil generated revenue of $522M and net profit of $7.2M.
    | Mon, Aug. 22, 4:26 AM | 3 Comments
  • Sun, Aug. 21, 10:19 PM
    • Japan’s Renesas Electronics (OTCPK:RNECF) reportedly is in talks to acquire chipmaker Intersil (NASDAQ:ISIL) for as much as ¥300B (~$3B), with a basic agreement possibly reached as early as this month.
    • The potential deal, which was first reported by Japan's Nikkei Asian Review, would represent the latest move in a trend of recent consolidation among global chipmakers.
    • Renesas was the world's third largest chipmaker by market share at the end of 2015, with 9.1%, according to data from the Gartner research firm.
    | Sun, Aug. 21, 10:19 PM
  • Tue, Aug. 9, 11:51 PM
    | Tue, Aug. 9, 11:51 PM
  • Tue, Feb. 9, 6:30 AM
    • Renesas Electronics (OTCPK:RNECF): Q4 Revenue of ¥164.8B.
    | Tue, Feb. 9, 6:30 AM
  • May 18, 2015, 12:35 PM
    • Xilinx (XLNX +1.3%) is higher after the NY Post reported Intel and Xilinx FPGA archrival Altera have resumed buyout talks. Shares jumped in March after the first Intel/Altera report arrived.
    • Last week, Reuters reported Avago (AVGO +1.3%) has reached out to Xilinx, analog/mixed-signal chipmaker Maxim (MXIM +0.6%), and Japanese microcontroller/analog chipmaker Renesas (OTCPK:RNECF) about potential deals. Sources also state Avago has talked with P-E firm Silver Lake about partnering on a deal.
    • Avago has acquired LSI, PLX Technology, and Emulex over the last 2 years, and was previously reported to have bid for Freescale before the company agreed to merge with NXP. The company is one of many chipmakers taking part in a consolidation wave driven by both cost and product synergies.
    | May 18, 2015, 12:35 PM
  • Jun. 10, 2014, 4:24 PM
    • Synaptics (SYNA) is acquiring Renesas' (RNECF) LCD driver IC unit in full for $475M in cash, or an enterprise value of $515M. Past reports had Synaptics only initially buying Renesas' 55% stake in the business.
    • The deal is expected to close in calendar Q4, be financed with a combo of cash and $300M in debt financing, and be immediately accretive to EPS. It adds to a broader consolidation wave that has hit the semi industry over the last year.
    • The Renesas unit (#1 in the mobile LCD driver market) had revenue of $650M and cash flow of $100M in the fiscal year ending in March - that means Synaptics is paying only 0.8x trailing sales. Synapitcs (current market cap of $2.4B) predicts the purchase will grow its addressable market by 1.5x, and "accelerate its product roadmap for touch-and-display driver integration."
    • Separately, Synaptics is hiking its FQ4 revenue guidance to $300M-$310M, above a prior $275M-$295M and a $285.8M consensus. The touchpad/touch controller vendor says both mobile and PC demand has been better than expected.
    • Synaptics is halted. Renesas rival Himax (HIMX) -2.3% AH.
    • Previous: Analyst commentary on Synaptics/Renesas
    | Jun. 10, 2014, 4:24 PM | 3 Comments
  • May 27, 2014, 3:54 PM
    • Renesas (RNECF) plans to sell its 55% stake in iPhone LCD driver IC supplier Renesas SP Drivers to Synaptics (SYNA +2.2%), Reuters reports.
    • Apple (AAPL +1.9%), which already develops its own app processors and fingerprint sensors, was previously reported to be interested in buying the stake for $479M. Reuters' sources state the talks failed to make progress.
    • Sharp (SHCAY) is expected to sell its 25% stake in the unit after Renesas makes its move. Renesas SP's LCD drivers stand to complement Synaptics' touchscreen controller and fingerprint sensor offerings for mobile OEMs.
    • Renesas SP had revenue of $575M in the fiscal year ending March 31. Syanptics is expected to post FY14 (ends in June) revenue of $918M.
    | May 27, 2014, 3:54 PM | 5 Comments
  • Apr. 1, 2014, 3:58 PM
    • The Nikkei reports Apple (AAPL +0.9%) is in talks with Renesas (RNECF) to buy its 55% stake in iPhone LCD driver IC supplier Renesas SP Drivers, and is looking to acquire it for ¥50B ($479M).
    • Sharp (SHCAY) owns 25% of Renesas SP, and Taiwan's Powerchip 20%. Sharp is expected to sell its stake to Apple if the company asks for a a deal after buying Renesas' interest.
    • Apple, which already develops its own app processors and fingerprint sensors, reportedly "wants to meld the design of core display components into overall product development."
    • A deal could be a positive for Himax (HIMX +3.9%) and MagnaChip (MX -0.6%), given Renesas SP's other clients would start looking for alternative LCD driver suppliers. Renesas SP has an estimated ~33% share of the market for small and mid-sized LCD drivers/controllers. It had revenue of ¥60B ($575M) during the fiscal year ending March 31.
    • Earlier: 4.7" iPhone LCD production reportedly set to start
    | Apr. 1, 2014, 3:58 PM | 10 Comments
  • Sep. 4, 2013, 7:19 AM
    • Broadcom (BRCM) agrees to buy LTE-related assets from affiliates of Renesas Electronics (RNECF.PK, RNECY.PK) for about $164M in cash. The transaction is expected to slice about $0.12 from EPS in the December quarter and $0.10-$0.15 from EPS for FY2014. The purchase is expected to be accretive to earnings in 2015.
    • Updating its outlook for the September quarter, the company expects revenue of $2.075B-$2.175B (Street consensus is $2.14B), and gross margins to be up about 50-100 basis points. R&A and SG&A expenses are expected to be "somewhat above" the high end of previous guidance.
    • CC at 7:30 ET.
    | Sep. 4, 2013, 7:19 AM
  • Sep. 23, 2012, 4:20 AM

    Japanese state-backed investment fund Innovation Network is in talks with major manufacturers - reportedly including Toyota (TM) and Panasonic (PC) - about acquiring struggling chipmaker Renesas, which is the subject of a bid of over ¥100B ($1.3B) from KKR. The Japanese government fears that KKR would "cut off the less-profitable operations" that are important for Japanese end users.

    | Sep. 23, 2012, 4:20 AM | 1 Comment