Renesas and Intersil Announce Final Regulatory Approval for Renesas’ Acquisition of Intersil
Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, and Intersil Corporation (NASDAQ:ISIL), a leading provider of innovative power management and precision analog solutions, today announced that they received notification by the Committee on Foreign Investment in the United States on February 21, 2017 PST; February 22, 2017 JST that the investigation of the merger transaction under which Renesas will acquire Intersil is complete and that there are no unresolved national security concerns with respect to the transaction.
All necessary regulatory approvals for the acquisition have now been received and the merger is expected to close on February 24, 2017 PST, subject to customary closing deliveries. Intersil stockholders have previously voted to adopt the merger agreement and approve the transaction at a special meeting of stockholders held on December 8, 2016.
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. The number one global supplier of microcontrollers, and a leader in 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.
Intersil Corporation is a leading provider of innovative power management and precision analog solutions. The company’s products form the building blocks of increasingly intelligent, mobile and power hungry electronics, enabling advances in power management to improve efficiency and extend battery life. With a deep portfolio of intellectual property and a rich history of design and process innovation, Intersil is the trusted partner to leading companies in some of the world’s largest markets, including industrial and infrastructure, mobile computing, automotive and aerospace. For more information about Intersil, visit our website at www.intersil.com.
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