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

Can I change job after one year?

first_img Comments are closed. Can I change job after one year?On 9 Oct 2001 in Personnel Today Previous Article Next Article Ihave been an HR officer in the public sector for a year. I am MCIPD-qualifiedand have just gained an MA in HRM at the age of 26. Previously, I was an HRofficer for four years in the private sector, but left to further my career.Although I enjoy my current job, I am becoming frustrated with the bureaucracyand slow pace. Would I find it difficult to get back into the private sectorhaving been in the public sector? Will it look bad on my CV to leave my currentjob after a year?MargaretMalpas, joint managing director, Malpas Flexible LearningAsyou are enjoying your job, I would suggest you identify the things you canlearn in the public sector and do so before moving on just yet. For example,often personnel policies are drafted with more care so they reflect wisespending of the public purse, which is not a concern in the private sector.It’s a good chance to see democracy and politics in action too, and this wouldstand you in excellent stead in a more senior role later.Ithink employers are looking for less timeserving on CVs nowadays, but theymight suspect you’re in a transitional phase, which is not good for yourprospects.PeterLewis, consultant, Chiumento Plentyof people have made the transition from the private to public sector. How easyit is depends on how you explain the moves, and the approach you adopt andqualities you display in your own job search.Reflecton the positives of your public sector experience, in particular what you havelearned, and ensure this comes over at interview. One thing you have learned isthat you are more suited to the pace of the private sector.Theremay be a danger that any private sector appointment will seem attractive, but arash move that results in a second mistake will be more difficult to explain. Yournext job must be the right one, something that gives you the challenge you arelooking for as well as being consistent with your longer-term career strategy.Onceyou have a clear direction, make the most of your blend of experience. Whileyour public sector experience is the most recent, your covering letter and theprofile at the head of your CV are places to highlight the private-sectorexperience. Where possible, select transferable experience from yourpublic-sector work. Embarkon a job-search campaign that uses all methods available. Regard it as anopportunity to demonstrate your thoroughness and professionalism. Itmay take a little time to make the transition, so be prepared for a for three-to six-month campaign.JoSelby, associate director, EJ Human ResourcesWithfour years in the private sector and a year in the public, I do not anticipatethat it will be a problem for you to return to the private sector. Having saidthat, the sooner you start to look the better, as the longer you leave it theharder it will become.Whilehaving only been in your current post for a year is not ideal, you aren’t thefirst person, nor the last, to have made a “mistake” in your choiceof employment. Butit is imperative that your next move is the right one. I suggest you take yourtime to ensure that is the case as you cannot afford to have another shortplacement.  Related posts:No related photos.last_img read more

Premier League’s international appeal faces coronavirus test

first_imgThat income will be all the more welcome, with uncertainty over when supporters will be allowed back into stadiums and commercial revenues expected to tumble in a global economic crisis.However, without the atmosphere generated by baying fans, the Premier League’s appeal may be diminished in football’s new normal.”What makes it special in England is the way people react to the game,” former Arsenal manager and FIFA’s chief of global football development Arsene Wenger told The Athletic.”It is the best country in the world for the way the fans respond to what’s happening on the pitch. That’s why I think it will be the most handicapped championship without that.” When the 100 day-wait for Premier League football comes to an end on Wednesday, the anticipation will be felt as keenly in Mumbai and Beijing as in Manchester and Birmingham.The global reach of the English top-flight has helped secure its position as the wealthiest league in world football.The Premier League’s overseas television rights deals for the 2019-2022 three-season cycle hit a record £4.2 billion ($5.3 billion) and another £2 billion deal has already been struck for Scandinavian rights between 2022 and 2028. Reschedule rebate The need to cram the remaining 92 games of the season into a five-and-a-half week window also means many more midweek games with evening kick-offs in England, forcing fans in the Far East to tune in during the early hours.Overseas broadcasters will be compensated with a reported £107 million rebate due to the change in scheduling.However, the excitement over the Premier League’s return endures, particularly among the huge number of Liverpool fans, many of whom are awaiting a first league title in their lifetimes.Jurgen Klopp’s men are just two wins away from being crowned champions of England for the first time in 30 years.Hu Zhifei, a 26-year-old journalist and member of Liverpool’s official fan club in Beijing, had planned a trip to see his heroes in action in February that was cancelled due to the coronavirus pandemic.”Nobody is anticipating the league’s restart more than Liverpool fans because we are within two wins of the title,” said Hu, who will tune in to watch the Reds via internet streaming despite kick-offs in the early hours.Excitement is also building in India, where the Premier League has built up a strong following among urban youth in a traditionally cricket-obsessed nation.”Finally I’ll watch some live EPL action. I have already chalked out a schedule for these matches,” Qazi Ahmad Masood, a 17-year-old student, told AFP. “I would love to see my favourite club Liverpool lift the trophy.”‘Fast and exciting’ One of the difficulties that lies ahead for the Premier League’s brand will be to maintain the intensity of competition on the field in echoing, empty stadiums.”The Premier League is fast and exciting and no matter whether it is a strong or weak team, the games are great to watch,” said Hu.Fans watching at home will be offered pre-recorded fan noise dubbed over the action to compensate for the real thing.”There is something about the legend that is English football that is all about noise and atmosphere and proximity,” Simon Chadwick, director of Eurasian sport at Emlyon business school in France told AFP.”That spectacle, the product, the noise, the atmosphere, the experience won’t necessarily be there.”However, by overcoming a series of obstacles just to get back playing in the country that is the worst-hit by coronavirus in Europe, the Premier League is confident it will not lose ground in the long run against the Bundesliga, La Liga or Serie A in the battle for viewers across the globe.”We know it won’t be the same without our loyal supporters in stadiums but, together with our broadcast partners, we are able to ensure fans can watch or listen to each match live from home,” said the Premier League’s chief executive Richard Masters.Topics :last_img read more