TOKYO–(COMMERCIAL WIRE)–Renesas Electronics Corporation (TSE:6723, “Renesas”), a leading provider of advanced semiconductor solutions, announced today that it has entered into a definitive agreement to acquire Steradian Semiconductors Private Limited (“Steradian”), a proprietary semiconductor company factory based in Bengaluru, India, providing 4D imaging radar solutions, in a cash transaction. The acquisition is expected to close in late 2022, subject to customary closing conditions. The acquisition of Steradian’s radar technology will allow Renesas to expand its reach in the radar market and boost its automotive and industrial sensing solution offerings.
With the advancements of ADAS (Advanced Driver Assistance Systems) in the automotive market, the demand for automotive sensor fusion is growing to enable accurate and precise detection of objects in the surroundings of vehicles by combining data from multiple sensors. , such as cameras, radar and LiDAR (light detection). and scope). Radar, in particular, accurately detects objects over long distances, day or night, even in poor weather or other harsh environmental conditions. For these reasons, radar is considered an essential sensing technology for ADAS, and the number of radar sensors installed in vehicles is expected to triple in the next five years (footnote). To respond to that growth potential, Renesas is expanding its automotive product portfolio with Steradian’s radar technology.
“Radar is an indispensable technology for ADAS, which uses a complex combination of various sensors,” he said. Hidetoshi Shibata, Chairman and CEO of Renesas. “The addition of Steradian’s excellent radar technology and engineering talent will allow us to extend our leadership in the automotive segments. We will also leverage its technology for industrial applications to drive our medium- and long-term business growth in both segments.”
“Renesas’ industry-leading integrated solutions portfolio and broad customer base serve as an ideal foundation for maximizing Steradian’s radar technology worldwide,” said Gireesh Rajendran, CEO of Steradian. “Working together with the Renesas team, we will continue to develop innovative radar solutions that deliver the high performance, small size and low power consumption that our customers want.”
Founded in 2016 as a start-up company, steradian has extensive experience in radar technology. Operating in the 76-81 GHz band, Steradian’s powerful 4D radar transceivers offer a high level of integration in a small form factor and high power efficiency. Renesas will leverage Steradian’s design assets and experience to develop automotive radar products, with plans to begin sample shipments by the end of 2022. The company aims to develop complete automotive radar solutions combining ADAS SoC (System -on-Chips) to process radar signals. , power management integrated circuits (PMIC) and timing products along with software for object recognition. Together, these solutions will simplify the design of automotive radar systems and help accelerate product development.
Renesas and Steradian have collaborated since 2018, mainly on industrial applications. Steradian’s radar technology is expected to be adopted in home security systems such as surveillance, traffic monitoring for people, automobiles and motorcycles, HMI (human-machine interface) systems such as gesture recognition, and docking systems in terminals. airports. Steradian provides specific solutions for these applications by offering transceiver ICs, turnkey modules including antennas, and object recognition software stacks.
For the past several years, Renesas has been expanding its connectivity and analog products to complement its core processing products for embedded systems. With the acquisition of Steradian, Renesas will bring together the best possible devices and software to meet the growing demand for sensor technology solutions for automotive and industrial customers, to make their design work easier.
(Note) Source: Strategy Analytics Inc., “Imaging RADAR Coming to Automotive”, December 2021.
(Remarks) All product or service names mentioned in this press release are trademarks or registered trademarks of their respective holders.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) powers a safer, smarter and more sustainable future where technology helps make our lives easier. As the world’s leading 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 smart devices that improve the way people work and live. Learn more at renesas.com. Follow us LinkedIn, Facebook, Twitter, YoutubeY Instagram.
Cautionary Note Regarding Forward-Looking Statements
This announcement may contain certain statements that are, or may be considered, forward-looking statements regarding the financial condition, results of operations and business of Renesas and/or Steradian and/or the combined group after 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 current or historical facts. Forward-looking statements also often use words such as “anticipate,” “target,” “continue,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “target,” “believe.” ”, “expect”, “targets”, “continue”, “could”, “project”, “should”, “will” or other words of similar meaning. These statements are based on assumptions and evaluations made by Renesas and/or Steradian (as applicable) in light of their experience and perception of historical trends, current conditions, future developments and other factors they deem 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 or implied by such forward-looking statements. Although the expectations reflected in such forward-looking statements are believed to be reasonable, there can be no assurance that such expectations will prove to be correct and, therefore, you are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. ad.
Forward-looking statements are not guarantees of future performance. Such forward-looking statements involve known and unknown risks and uncertainties that could materially affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied by any forward-looking statements. Because of such uncertainties and risks, readers are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date of this announcement. Neither Renesas nor Steradian undertakes any obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise, except as required by applicable law.
There are a number of factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include changes in the global, political, economic, business and competitive environments, market and regulatory forces, interest and exchange rates changes in tax rates and future business combinations or dispositions. If one or more of these risks or uncertainties materializes or if one or more assumptions prove incorrect, actual results may differ materially from those expected, estimated or projected. Therefore, such forward-looking statements should be interpreted in light of such factors.
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