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Market Overview

Renesas Set To Acquire Apple Supplier Dialog Semiconductor For $5.9B

  • Japan’s Renesas Electronics Corporation (OTC: RNECFhas agreed to acquire Dialog Semiconductor plc (OTC: DLGNF) in a cash transaction for €67.50 per share, at a roughly $5.89 billion (€4.9 billion) valuation. The U.K.-based chip designer is a supplier to companies like Apple Inc (NASDAQ: AAPL).
  • The purchase price signifies a premium of 20% premium to Dialog’s Friday close of €56.12 in Frankfurt.
  • The acquisition will play a crucial role in consolidating Renesas’ global footprint across large, high-growth markets in the IoT, industrial and automotive fields with Dialog’s low-power technologies and connectivity expertise around its mixed-signal integrated circuits, including complementary product lines.
  • Renesas estimates acquisition synergies worth $200 million from revenue, $198.8 million within the next four to five years from operating income from cross-selling, burgeoning industries, and continued innovation.
  • Renesas might either finance the acquisition via a bank loan or equity.
  • The transaction is estimated to close by the end of 2021, subject to regulatory approvals and closing conditions.
  • Price action: DLGNF shares are up 8.23% at $68.26 at the pre-market session on the last check Monday. Renesas shares fell 3.61% in Tokyo exchange.

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