Renesas Completes Acquisition of Panthronics
Renesas Electronics Corporation (TSE:6723, "Renesas"), a premier supplier of advanced semiconductor solutions, today announced its successful completion of acquiring Panthronics AG ("Panthronics"), a fabless semiconductor company specializing in high-performance wireless products. The acquisition was completed as of June 2, 2023 JST, June 1, 2023 CEST, following required regulatory approval. Renesas also announced 13 "Winning Combination" solution designs that combine Renesas' products with Panthronics' unique Near-Field Communication (NFC) technology, showcasing the continued expansion of Renesas' portfolio, specifically in the connectivity space.
"We are excited to welcome the Panthronics team to Renesas, and announce 13 Winning Combinations showcasing the technological synergy between the companies on the same day," said Sailesh Chittipeddi, Executive Vice President & General Manager of the Embedded Processing, Digital Power and Signal Chain Solutions Group. "These Winning Combinations unite Renesas' broad range of embedded processing, power, connectivity, and analog portfolios with Panthronics' NFC technology, providing customers with turnkey NFC solutions."
NFC is now widely used in our daily life, and its market is expected to grow exponentially for both industrial and automotive use cases. Headquartered in Graz, Austria, Panthronics has been offering advanced NFC chipsets and software that are easy to apply, small-in-size, and highly efficient for payment, IoT, asset tracking and wireless charging.
The acquisition provides Renesas with in-house capability to instantly capture growing market opportunities for NFC. With Panthronics' NFC expertise and skilled engineering talent, Renesas will be able to offer customers a compelling breadth of connectivity solutions in growing areas spanning fintech, IoT, and automotive spheres.
To immediately demonstrate the companies' technological advantages, Renesas announced 13 Winning Combinations integrating Renesas' embedded processing, power, connectivity, and analog portfolios with Panthronics' unique NFC technology. These market-ready reference designs allow customers to instantly start developing NFC systems with minimal cost and time. Panthronics' devices are also part of Renesas Quick-Connect IoT, a platform of standardized hardware, and the Quick-Connect Studio which enables the "drag and drop" feature in system design to quickly and easily add required functions and features.
13 Winning Combinations featuring Renesas and Panthronics products:
The new Renesas Winning Combinations, in addition to more than 400 existing Winning Combinations, include block diagrams, product information, and the ability to sample and buy. They are available at www.renesas.com/win.
(Remarks) All names of products or services mentioned in this press release are trademarks or registered trademarks of their respective owners.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. The leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, YouTube, and Instagram.
Cautionary note regarding forward-looking statements
This announcement may contain certain statements that are, or may be deemed to be, forward-looking statements with respect to the financial condition, results of operations and business of Renesas and/or Panthronics and/or the combined group following completion of the Acquisition and certain plans and objectives of Renesas with respect thereto. These forward-looking statements can be identified by the fact that they do not relate to historical or current facts. Forward-looking statements also often use words such as "anticipate," "target," "continue," "estimate," "expect," ''forecast," "intend," "may," "plan," "goal," "believe," "hope," "aims," "continue," "could," "project," "should," "will" or other words of similar meaning. These statements are based on assumptions and assessments made by Renesas and/or Panthronics (as applicable) in light of their experience and perception of historical trends, current conditions, future developments and other factors they believe appropriate. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this announcement.
Forward-looking statements are not guarantees of future performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this announcement. Neither Renesas nor Panthronics undertakes any obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by applicable law.
There are several factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business and competitive environments, market and regulatory forces, future exchange and interest rates, changes in tax rates and future business combinations or dispositions. If any one or more of these risks or uncertainties materializes or if any one or more of the assumptions prove incorrect, actual results may differ materially from those expected, estimated or projected. Such forward looking statements should therefore be construed in the light of such factors.
No member of the Renesas group or Panthronics nor any of their respective associates, directors, officers, employers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will actually occur.
Except as expressly provided in this announcement, no forward-looking or other statements have been reviewed by the auditors of the Renesas group or Panthronics. All subsequent oral or written forward-looking statements attributable to any member of the Renesas group or Panthronics, or any of their respective associates, directors, officers, employers or advisers, are expressly qualified in their entirety by the cautionary statement above.
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