Renesas and Dialog Semiconductor to Join Forces to Advance Global Leadership in Embedded Solutions

first_img Twitter Renesas and Dialog Semiconductor to Join Forces to Advance Global Leadership in Embedded Solutions By Digital AIM Web Support – February 8, 2021 WhatsApp Twitter Dialog Semiconductors Mark Tyndall phone: +49 (0)172 7226409 email:[email protected] Investor Relations Contacts: Renesas Electronics Corporation Masayuki Nagayama +81 3-6773-3002 [email protected] Facebook Facebook FTI Consulting Matt Dixon Rob Mindell phone:+ 44 (0) 203 727 1000center_img Dialog Semiconductors Jose Cano phone: +44 (0) 1793 756 961 email:[email protected] KEYWORD: CALIFORNIA UNITED STATES UNITED KINGDOM JAPAN NORTH AMERICA ASIA PACIFIC EUROPE INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS SEMICONDUCTOR ENGINEERING AUTOMOTIVE MANUFACTURING MANUFACTURING INTERNET HARDWARE CONSUMER ELECTRONICS SOURCE: Renesas Electronics Corp. Copyright Business Wire 2021. PUB: 02/08/2021 04:47 AM/DISC: 02/08/2021 04:47 AM http://www.businesswire.com/news/home/20210208005315/en TOKYO & LONDON–(BUSINESS WIRE)–Feb 8, 2021– Renesas Electronics Corporation (“Renesas”, TSE: 6723), a supplier of advanced semiconductor solutions, and Dialog Semiconductor Plc (“Dialog”, XETRA:DLG ), a provider of power management, charging, AC/DC power conversion, Wi-Fi and Bluetooth® low energy (BLE) technology, today announced they have reached an agreement on the terms of a recommended all-cash acquisition by Renesas of the entire issued and to be issued share capital of Dialog (the “Acquisition”) for EUR 67.50 per share, representing a total equity value of approximately EUR 4.9 billion (approximately 615.7 billion yen). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210208005315/en/ Dialog is an innovative provider of highly-integrated and power-efficient mixed-signal ICs for a broad array of customers within IoT, consumer electronics and high-growth segments of automotive and industrial end-markets. Centered around its low-power and mixed-signal expertise, Dialog brings a wide range of product offerings including battery and power management, power conversion, configurable mixed-signal (CMIC), LED drivers, custom mixed-signal ICs (ASICs), and automotive power management ICs (PMICs), wireless charging technology, and more. Dialog also offers broad and differentiated BLE, WiFi and audio system-on-chips (SoCs) that deliver advanced connectivity for a wide range of applications; from smart home/building automation, wearables, to connected medical. All these systems complement and expand Renesas’ leadership portfolio in delivering comprehensive solutions to improve performance and efficiency in high-computing electronic systems. “The transaction we announced today represents our next important step in catapulting Renesas’ growth plan to achieve substantial strategic and financial benefits, following our previous acquisitions,” said Hidetoshi Shibata, President and CEO of Renesas. “Dialog has a strong culture of innovation along with excellent customer relationships and serves fast growing areas including IoT, industrial and automotive. By bringing Dialog’s talented team and expertise into Renesas, together, we will accelerate innovation for customers and create sustainable value for our shareholders.” “For several years, we have successfully executed on a diversification strategy that positions Dialog for high-growth,” said Dr. Jalal Bagherli, CEO of Dialog. “We have built a strong foundation of high-performance analog and power efficient mixed-signal expertise, extended our product portfolio and applied our technologies into markets including 5G, wearables, automotive, smart home, connected medical and industrial IoT. This compelling platform – combined with Renesas’ leading embedded compute, analog and power portfolio – creates even greater growth opportunities in today’s increasingly connected world. The Dialog team is excited to join forces with Renesas. The combined company will be in an even stronger position to provide innovative products for these markets, building on Renesas’ extensive sales, distribution and customer support capabilities.” Strategic and Financial Rationale The acquisition announced today demonstrates Renesas’ continued and unwavering commitment to further advance its solution offering. The complementary nature of the companies’ technological assets and the scale of the combined portfolios will enable Renesas to build more robust and comprehensive solutions to serve high-growth segments of the IoT, industrial and automotive markets. Renesas believes there is a compelling strategic and financial rationale for the Acquisition because it:Scales Renesas’ IoT sector capabilities with Dialog’s low-power technologies Dialog has a differentiated portfolio of low-power mixed-signal products, decades of experience in developing custom and configurable solutions for the world’s largest customers and expertise in low-power connectivity that are highly complementary to Renesas. The acquisition of these low-power technologies enhances Renesas’ product portfolio and expands horizons in addressing high-growth markets in the IoT field.Unlocks further differentiation to Renesas system solution with connectivity Bringing together Renesas and Dialog will extend the combined group’s reach to a broader customer base and open up additional growth potential in the key growth segments: industrial infrastructure, IoT and automotive. Dialog’s BLE, WiFi and audio SoCs are highly complementary to Renesas’ microcontroller (MCU)-based solutions. Combining Dialog’s innovative low-power Wi-Fi and Bluetooth® SoCs and expertise with Renesas’ technologies will enable Renesas to further differentiate its system solution offering and extend its footprint in high-growth segments, including contactless IoT applications for smart home/building automation and healthcare. Renesas’ automotive solutions will also be enriched with connectivity for a wide range of security and safety applications.Adds engineering and design scale and more effective go-to-market initiatives The past acquisitions brought diverse talent and management capabilities to expand Renesas’ global operations. The transaction announced today extends this effort and enables Renesas to add engineering and design scale in low-power analog and mixed signal. The addition of Dialog’s strong R&D and geographical presence will also allow Renesas to expand its “Winning Combinations” lineup of innovative solutions and make its go-to-market initiatives more effective to provide seamless and borderless services to customers around the globe. In 2017 and 2019, Renesas acquired Intersil Corporation and Integrated Device Technology, Inc. (“IDT”) to expand its analog solution lineup and to strengthen its kit solution offerings that combine its MCUs, SoCs and analog products. At the same time as the closing of IDT acquisition, Renesas began capitalizing on the integration by offering “Winning Combinations”, compelling Analog + Power + Embedded Processing product combinations that help customers accelerate their designs and get to market at a faster rate. These combinations now add up to more than 210 solutions, focusing on verticals including industrial, infrastructure, automotive, and consumer.Delivers earnings accretion and cost savings Renesas anticipates incremental revenue growth of approximately 200 million USD (non-GAAP operating income, approximately 21.0 billion yen) from cross selling and access to fast-growing industries alongside continued innovation of solution offerings; expects cost savings from operational efficiencies to result in a financial impact of approximately 125 million USD (non-GAAP operating income per year on a run rate basis, approximately 13.1 billion yen). Renesas anticipates the cost savings to realize in approximately 3 years after closing, and revenue growth to realize in approximately 4 to 5 years after closing. Dialog’s underlying EBITDA (non-IFRS measure) for the 12-month period to 25 September 2020 was equivalent to 35.5 billion yen. Had the transaction been effective throughout that period, Renesas’ non-GAAP gross margin would have been approximately 0.6 percentage points higher. Additional Transaction Details Under the terms of the agreement, Renesas will pay EUR 4.9 billion in cash for all the issued and to be issued share capital of Dialog at a price per share of EUR 67.50. The offer price corresponds to a 20.3 percent premium to Dialog’s closing price of EUR 56.12 on February 5, 2021, being the last business day before the date of this announcement. Renesas plans to finance the transaction with bank loans of approximately 735.4 billion yen (Note). The transaction has been unanimously approved by the boards of directors of both companies and is expected to close by the end of calendar year 2021. The transaction will be structured as a court-approved scheme of arrangement under the UK Companies Act 2006 and Dialog is expected to send the necessary documentation to its shareholders for the purposes of seeking their approval for the transaction within 28 days of this announcement. Completion of the transaction is subject to approval by Dialog shareholders as well as regulatory approvals and other customary closing conditions. (Note) Renesas plans to raise equity finance by issuing new shares. Depending on the timing or other conditions of the equity finance, it is entirely possible that the portion of the aforementioned bank loans may not take place and instead funds procured through equity finance by way of issuance of new shares may be used as the payment for the Acquisition. Advisors and counsel Nomura International Plc. is serving as financial advisors to Renesas; Covington & Burling LLP and Nagashima Ohno & Tsunematsu are serving as Renesas’ legal counsel. J.P. Morgan and Qatalyst Partners are serving as financial advisors to Dialog; Linklaters LLP are serving as Dialog’s legal counsel. (Note) Figures in this press release are calculated at the rate as of February 3, 2021: 105 yen per dollar and 126 yen per Euro. Zoom Webcast information Renesas and Dialog management will host a Zoom webinar to discuss details of the transaction at 9:00 a.m. Greenwich Mean Time / 6:00 p.m. Japan Time today. Shareholders, analysts, investors and media are invited to join the live webcast by registering using the following link: https://zoom.us/webinar/register/WN—yUyWOsO3Ry6gpOKxMYh7FQ. A recording and the accompanying presentation relating to the transaction will be available on the investor relations section of the Renesas website at https://www.renesas.com/us/en/about/investor-relations. After registering, you will receive a confirmation email containing details to access the webinar via conference call or webcast. About Renesas Electronics Corporation Renesas Electronics Corporation ( TSE: 6723 ) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live—securely and safely. With an extensive portfolio of microcontrollers, analog, power, and SoC products, Renesas provides the expertise, quality, and comprehensive solutions for a broad range of Automotive, Industrial, Home Electronics (HE), Office Automation (OA) and Information Communication Technology (ICT) applications to help shape a limitless future. Learn more at renesas.com. About Dialog Semiconductor Dialog Semiconductor is an innovative provider of integrated circuits (ICs) that power mobile devices, consumer Internet of Things and Industry 4.0 applications. Dialog solutions are integral to some of today’s leading mobile devices and the enabling element for increasing performance and productivity on the go. From making smartphones more power efficient and shortening charging times, enabling home appliances to be controlled from anywhere, to connecting the next generation of wearable devices, Dialog’s decades of experience and world-class innovation help manufacturers get to what’s next. Dialog operates a fabless business model and is a socially responsible employer pursuing many programs to benefit the employees, community, other stakeholders and the environment it operates in. Dialog is headquartered in the United Kingdom with a global sales, R&D and marketing organization. For the year ending 31 December 2019, it reported 1.42 billion USD in revenue and underlying operating profit of 324 million USD. It currently has approximately 2,300 employees worldwide. The company is listed on the Frankfurt Stock Exchange (FWB: DLG). For more information, visit www.dialog-semiconductor.com. 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 Dialog 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 Dialog (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 Dialog 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 the Dialog group 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 the Dialog group. All subsequent oral or written forward-looking statements attributable to any member of the Renesas group or the Dialog group, or any of their respective associates, directors, officers, employers or advisers, are expressly qualified in their entirety by the cautionary statement above. (Remarks) Dialog and the Dialog logo are trademarks of Dialog Semiconductor Plc or its subsidiaries. Bluetooth is a registered trademark of Bluetooth SIG, Inc. of the United States. All other product or service names are the property of their respective owners. View source version on businesswire.com:https://www.businesswire.com/news/home/20210208005315/en/ CONTACT: Media Contacts: Renesas Electronics Corporation Kyoko Okamoto +81 3-6773-3001 [email protected] TAGS  Local NewsBusiness Pinterest WhatsApp Pinterest Previous articleUnited States Wound Care Management Market Growth Trends and Forecasts to 2025, Featuring Key Players 3M Company, Braun Melsungen AG, Cardinal Health, Inc., Coloplast A/S, Johnson and Johnson and More – ResearchAndMarkets.comNext articleUK Digital Health Market Report – Is IT Investment Sufficient to Sustain a Long-term Digital Health Revolution Beyond Covid-19? – ResearchAndMarkets.com Digital AIM Web Supportlast_img read more

7 Stellar Road Biking Loops Beginning in Brevard, NC

first_imgWe recently sat down with Zack Lowden, avid road cyclist and member of the Brevard College cycling team, to talk about his top seven rides in Brevard, NC and the surrounding area. “We’re really lucky here. This is world class riding and it’s right in the backyard of my college,” Lowden said. “It’s scenic, the roads are nice and maintained, the temperature is mild and I have so many options to ride every day after class.”Next time you’re in the Brevard area with a road bike in tow, don’t miss out on these 7 classic road rides.1. 276 Up and DownThis intermediate ride begins in Brevard and climbs up Hwy. 276 in the Pisgah National Forest. An out-and-back ride, it leads cyclist all the way to 276’s intersection with the Blue Ridge Parkway before ending and heading back into town. The climb is intermediate to advanced and the descent is moderate. In total, this is a 37.5-mile route requiring about 2.5 hours of ride time and 2,864 feet of elevation gain.Rosman2. The Parkway LoopIf you are interested in extending the 276 ride, this loop begins in Brevard and heads up to the Blue Ridge Parkway. The total distance is 61.7 miles and moving time is typically about 4.5 hours. It is a scenic ride with an extended 2-hour climb. The total elevation gain is 4,551 feet and the descent travels down Hwy. 215 in Pisgah National Forest. 3. DuPont LoopThis is an intermediate ride with rolling terrain and a few intermediate climbs. The loop is 31 miles and takes approximately 2 hours with a gain of 2,480 feet. This ride can begin in Brevard and you will ride past the Little River, which is home to several waterfalls, close to the Holmes Educational State Forest center, and past Cedar Rock. 4. Rosman LoopThis loop through Rosman, NC is a beginner-intermediate road route, with relatively flat terrain that transitions into rolling hills. It is an easier ride on country roads with one small high-speed descent. It is a 27.8-mile loop that will take around 1 hour and 45 minutes, gaining 1,752 feet.5. Waynesville LoopThis is a difficult climbing loop that begins in Brevard and goes up and over 276 and into the outskirts of Waynesville. Riders will travel through back on Hwy. 215 through Pisgah, past the Blue Ridge Parkway, and around the border of Shining Rock Wilderness Area. The loop is 81.3 miles and with a gain of 7,141 feet, the ride will take around 5 hours. 6. Pretty PlaceThis is an out-and-back ride to South Carolina that involves biking on back roads to Pretty Place Church. The view from the church is scenic and an iconic spot for the area. The route is 38.7 miles with a gain of 2,562 feet. It will take about 2.5 hours to get from Brevard to Pretty Place and back.Dupont Loop7. Caesar’s HeadThis is a loop through SC that passes Caesar’s Head State Park. The overlook provides views of Table Rock and many hikes dot the surrounding area, one being the hike to Raven Cliff Falls. The loop involves difficult climbs with high-speed descents and a rolling middle section. It is 63.3 miles total and gains 5,253 feet. Total travel time will be around 4 hours but be prepared to stop and enjoy the view. All of these begin in Brevard but start and end locations can be modified for your personal experience. Visit Lowden’s Strava account here to see more information on these rides and many others for the area.[divider]Related Articles[/divider]last_img read more

Hall of fame

first_imgWould you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img

South Carolina’s Dawn Staley is The Associated Press women’s basketball coach of the year

first_imgSouth Carolina’s Dawn Staley is The Associated Press women’s basketball coach of the year March 23, 2020 Associated Press center_img Share This StoryFacebookTwitteremailPrintLinkedinRedditNEW YORK (AP) — South Carolina’s Dawn Staley is The Associated Press women’s basketball coach of the year.,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6last_img

Olympic broadcasters gear up for the biggest show on earth

first_imgMadrid, Spain | AFP | Clock-watching is an integral part of any Olympic Games but even the most eagle-eyed sporting anoraks might be forgiven for missing the fact that Sunday marks 600 days until the start of the 2020 Olympics in Tokyo.For most people, it is not actually a particularly significant milestone but for 160 people of 35 nationalities beavering away in a building overlooking a highway in Madrid, the pressure of organising the biggest television show on earth just went up a notch.These are the people of the Olympic Broadcasting Services (OBS), a wing of the International Olympic Committee responsible since 2008 for providing the pictures of every competition which are beamed around the world.The size of the audience is phenomenal as is the money that is generated.Over five billion viewers tuned in for the last Games in Rio de Janeiro in 2016 as opposed to 3.4 billion for this year’s football World Cup.Television stations from around the world have dished out more than six billion dollars for the rights to the Games in Tokyo — broadcasting the event is a complex, lucrative business managed from the Spanish capital.“Preparing and planning for the games is an ongoing function, so as we speak we are obviously very close to the finalisation of our plans for Tokyo,” says Yiannis Exarchos, the imposing Greek boss of the OBS.“But we have already started quite detailed planning for the winter games in Beijing (2022) and we have already started engaging with Paris (2024) and Los Angeles (2028).”– A ‘burden’ on host cities –The first time pictures were beamed live from the Olympics was Berlin in 1936. It wasn’t until the 1964 Games, also in Tokyo, that pictures went live around the world.Back then it was the responsibility of the host nation to provide the coverage and that is how it stayed until 2008.“During the games we employ a team of more than 7,000 professionals coming from 90 different countries, we have 1,000 cameras, hundreds of thousands of kilometres of cables,” says Exarchos. “This started to become a big burden for the organising committee as the Games grew bigger and more complex.“As early as the Games of Atlanta (1996), it was made clear that the IOC should do something to support the cities.”So it was that the IOC created OBS in 2001 to provide coverage of all Olympic and Paralympic Games.– Infrastructure –Beijing 2008 marked the OBS’ first outing and it comes as no surprise to discover that Sotiris Salamouris, who is in charge of technology at OBS, was back in Beijing last month to discuss the next Winter Olympics in 2022.“We need to have a good number of discussions with the organising committee in terms of the infrastructures they need to make available for us,” says Salamouris. “The IBC, that is the priority.”The IBC is the International Broadcast Centre, a bustling hub set up in each host city where television channels from all over the world get the signal from OBS to broadcast back home.“We need to work quite early with the organising committee to find this facility, to secure it, to agree about timelines, additional works necessary.“This is what we have begun with Paris,” says Salamouris looking ahead already to the Summer Olympics of 2024.Given that the IOC is based in Lausanne, it may raise an eyebrow to see that the OBS is centred in Madrid.“It does not come from heaven, it comes from (Manolo) Romero,” jokes IOC member Juan Antonio Samaranch Salisachs whose father served 21 years as president of the IOC.A Spaniard and in charge of radio and television coverage of the Games since Mexico in 1968, Romero was appointed head of OBS when it was created and insisted on the headquarters being in Madrid, where he lived.Share on: WhatsApp Pages: 1 2last_img read more

OVERTIME

first_imgBILL NEAL :10 RRRRiiiinnnngggg… RRRRiiiinnnngggg… Ring damn it! Oh my bad… Hello, Smitty’s Bar and Grill. You know how we call it, you stab-um and we’ll slab-um! Smitty here. Who? Mike who? Naw, nobody here named Mike Brown. No. I’m telling you, I am looking at the whole joint right now and the only ones here are a bunch of drunk Notre Dame dudes. Chris Rainey in the corner talking to hisself, Lance Armstrong and Oprah (No, my man, you don’t wanna know). Oh wait, you talking bout “Coach Brown.” We don’t know his first name. We just call him Coach. He came in here a few months ago with a clipboard talkin’ bout somebody named Jerry Buss did him wrong. But you know the strangest thing happened last week. He came in with “Mrs. Rudolph.” You know, the voo-doo lady from round the way and they both kept saying something about, “Who’s sorry now you S-O-Bs?” Alright, hold on, I’ll get him. Yo, “Coach Brown,” you wanted on the phone man… some cat named “Kobe.” Said he needs to talk to you right away and he said to tell Mr. Rudolph he got “A Goose and Turkey!”:09 To me it’s real simple. The baseball players used PEDs. PEDs weren’t illegal. The league knew they were using them while they were knocking the cover off the ball and making a zillion dollars. That means everyone on the list goes in the Hall of Fame. Bonds, Clemons, Sosa… they’re all in! Like I said, real simple. (For you late to the dance Peabody grads, that’s performance enhancing drugs…PEDs).:08 I saw Ruthie Walker at my favorite writing spot (and yes, I only go there for the wings). Anyway, if you think she’s not one of the best girls Middle School coaches in the city league, you try winning 5 championships in six years. Yea, that’s what I thought! Hey Ruthie, you’re now In The Locker Room.:07 Well, Fred and Booker and, yeah, my old man too. The fat lady may not be singing, but she’s warming up her pipes on the Lakers. But I am a true fan. I am going down with the ship. Give it a few more weeks before I pull the plug. (Hey LeBron… LeBron… wait up my man… what’s up?).:06 Lance Armstrong, WILL – YOU – PLEASE – JUST – SHUT – UP! And don’t start that crying with Oprah. Take it to the grave with ya. Follow the Barry Bonds, Roger Clemons plan. If you didn’t see it, I didn’t do it! C’mon man!!:05 How does a KFC close up in Homewood and East Liberty? A chicken joint that can’t stay open in the Hood, I’m just saying!?!?!last_img read more