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- Advanced semiconductor solutions supplier Renesas Electronics (OTCPK:RNECY) has entered into a definitive agreement to acquire India-based Steradian Semiconductors in an all-cash transaction.
- The acquisition, subject to customary closing conditions, is expected to close by year-end.
- No other terms of the deal were disclosed.
- With the advancements of ADAS (Advanced Driver Assistance Systems) in the automotive market, the number of radar sensors installed in vehicles is expected to triple over the next five years as radar is considered an essential sensing technology for ADAS.
- Renesas said it is expanding its automotive product portfolio with Steradian's radar technology to respond to such growth.
- Source: Press Release