Renesas officially makes an offer for Dialog

Dialog confirmed recent media speculation yesterday (Sunday) as the company issued a statement saying that it was in "advanced discussions" with the Japanese company. Now Renesas has moved forward and issued a firm offer. Dialog is 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. Centered around its low-power and mixed-signal expertise, Dialog brings a wide range of product offerings including battery and power management, power conversion, configurable mixed-signal (CMIC), LED drivers, custom mixed-signal ICs (ASICs), and automotive power management ICs (PMICs), wireless charging technology, and more. All these systems complement and expand Renesas’ portfolio. “The transaction we announced today represents our next important step in catapulting Renesas’ growth plan to achieve substantial strategic and financial benefits, following our previous acquisitions,” says Hidetoshi Shibata, President and CEO of Renesas, in a press release. “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.” “For several years, we have successfully executed on a diversification strategy that positions Dialog for high-growth,” adds Dr. Jalal Bagherli, CEO of Dialog. “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.” Renesas anticipates incremental revenue growth of approximately USD 200 million USD from cross selling and access to fast-growing industries alongside continued innovation of solution offerings. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close by the end of calendar year 2021. However, as always, the completion of the transaction is subject to approval by shareholders as well as regulatory approvals and other customary closing conditions.