SiTime to Buy Timing Business From Renesas Electronics For $1.5 Billion
By Amira McKee
SiTime will buy Renesas Electronics' timing business in a move to bolster the company's portfolio of high-performance timing products.
The precision timing company said Wednesday that it will acquire assets related to the timing business of semiconductor supplier Renesas for $1.5 billion in cash and about 4.13 million shares.
SiTime expects the acquisition to generate $300 million of revenue in the 12-month period after the transaction closes, accelerating its path to $1 billion in revenue.
"With Renesas' timing business, we will increase our clocking portfolio by more than 10x and extend our reach in the fastest growing applications in the timing market, including comms, enterprise and datacenter," Chief Executive Officer of SitTime Rajesh Vashist said.
SiTime's shares rallied post-market after the sale was disclosed along with financial results for the fourth quarter. The company swung to a profit with net income of $9.7 million, up from a loss of $18.8 million in the same period a year earlier. The stock rallied 14% to $398.00 per share after ending the regular trading session down 1% at $347.96.
Write to Amira McKee at amira.mckee@wsj.com
(END) Dow Jones Newswires
February 04, 2026 18:14 ET (23:14 GMT)
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