NasdaqGM:SITMSemiconductor
SiTime Renesas Deal Redefines Timing Focus And Valuation Debate
SiTime agreed to acquire the timing business assets of Renesas Electronics in a deal valued up to $3.2b.
The agreement will expand SiTime's product portfolio by more than tenfold and deepen its focus on precision timing solutions.
Renesas' CEO is expected to join SiTime's board, and the companies plan to integrate SiTime's MEMS timing technology into Renesas' embedded products.
For investors watching NasdaqGM:SITM, this move comes with the stock at $418.69 and a 1-year return of 132.8%...