Renesas acquires Celeno to expand connectivity portfolio
Renesas Electronics announces that it has entered into a definitive agreement with Celeno Communications, a provider of smart Wi-Fi solutions, under which Renesas will acquire Celeno in an all cash transaction valuing Celeno at approximately USD 315 million.
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, subject to customary closing conditions. The acquisition is described to significantly enhance Renesas’ connectivity portfolio with the addition of Celeno’s Wi-Fi technologies and software expertise. Headquartered in Israel, Celeno offers a wide range of wireless communication solutions, including advanced Wi-Fi chipsets and software solutions, for high-performance home networks, smart buildings, enterprise and industrial markets. In addition to expanding the solution offering, the acquisition also increases Renesas’ engineering and design scale with Celeno’s design center in Israel and by welcoming R&D staff based in Israel, Ukraine, India, China, Taiwan and more. “The transaction announced today underscores our continuous commitment to improve performance and efficiency in electronic systems,” says Hidetoshi Shibata, President and CEO of Renesas in the press release. “Building on our recently-expanded connectivity portfolio following the Dialog acquisition, the addition of Celeno provides us with more advanced Wi-Fi connectivity capabilities to deliver end-to-end connectivity solutions for both clients and access points. Renesas is now strongly positioned to capitalize on the growing opportunities from the massive rise in connectivity and requirements created by today’s increasingly connected world.” “This is a compelling transaction for both our customers and employees. Our depth and strength in connectivity combined with Renesas’ industry leading portfolio of embedded solutions will allow us, together, to open up new growth areas we can target,” adds Gilad Rozen, President and CEO of Celeno.” Renesas will also provide us with the go-to-market capabilities to bring Celeno to a broader range of customers.”