SiTime Shares Rise After Deal to Buy Renesas Electronics' Timing Business
By Chris Wack
SiTime shares were 20% higher, at $418.14, after the company said it is buying certain assets related to Renesas Electronics' timing business for $1.5 billion in cash and about 4.13 million shares.
The stock hit its 52-week high of $431.70 earlier in the session, and is up 88% in the past 12 months.
The companies on Thursday said they have also signed a partnership memorandum of understanding to explore SiTime's MEMS resonator integration into Renesas's embedded-computing products.
In the 12 months following the close of the transaction, the timing business is expected to generate $300 million in revenue, the companies said.
SiTime intends to fund the cash consideration with cash on hand and $900 million of fully committed debt financing from Wells Fargo Bank. The transaction is not subject to any financing conditions.
The deal is expected to close by the end of 2026, subject to customary closing conditions and regulatory approvals, the companies said.
Hidetoshi Shibata, CEO of Renesas, is set to join SiTime's board of directors after the close of the transaction.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 05, 2026 11:17 ET (16:17 GMT)
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