Japanese company pays 4.9 billion Euros for Reading based Dialog Semiconductor
Renesas is to pay 4.9 billion Euros for the company, which is listed on the Frankfurt Stock Exchange.
Dialog is an innovative provider of highly-integrated and power-efficient mixed-signal ICs for a broad array of customers within IoT, consumer electronics and high-growth segments of automotive and industrial end-markets.
The company employs more than 2,000 people, with 77 per cent working in engineering functions across 15 countries. According to reports Dialog employs about 250 people at its sites in Reading, Swindon and Edinburgh. In 2019, it reported revenue of $1,420 million.
Hidetoshi Shibata, President and CEO of Renesas, said: "“The transaction represents our next important step in catapulting Renesas’ growth plan to achieve substantial strategic and financial benefits, following our previous acquisitions.”
He added: “Dialog has a strong culture of innovation along with excellent customer relationships and serves fast growing areas including IoT, industrial and automotive. By bringing Dialog’s talented team and expertise into Renesas, together, we will accelerate innovation for customers and create sustainable value for our shareholders.”
Dr. Jalal Bagherli, CEO of Dialog, said: “For several years, we have successfully executed on a diversification strategy that positions Dialog for high-growth. We have built a strong foundation of high-performance analog and power efficient mixed-signal expertise, extended our product portfolio and applied our technologies into markets including 5G, wearables, automotive, smart home, connected medical and industrial IoT. This compelling platform – combined with Renesas’ leading embedded compute, analog and power portfolio – creates even greater growth opportunities in today’s increasingly connected world. The combined company will be in an even stronger position to provide innovative products for these markets, building on Renesas’ extensive sales, distribution and customer support capabilities.”