Intersil Corporation is expected to operate as Renesas Electronics America Inc from January 1, 2018. Renesas acquired Intersil on February 24, 2017. The integration process in Japan and Korea is expected to be completed in the near future.
As of January 1, 2018, Intersil Corporation is expected to complete an absorption-type merger with Renesas Electronics America Inc, the U.S. subsidiary of Renesas, leaving Intersil Corporation as the surviving company, Renesas said in a press statement.
“With the integration of the Intersil business, we have taken another significant step towards maximizing the full potential of the combined business, providing scale, stability and a comprehensive product mix. With the enhanced global strength, Renesas is in the best position to further strengthen its leadership in the global semiconductor market,” said Bunsei Kure, Representative Director, President and CEO of Renesas Electronics Corporation.
“The promise of the Renesas and Intersil integration has already begun to materialise as we’ve started operating as one company. We are fully combining our portfolios, technologies and talent to maximise the potential of the acquisition synergies. As a result, we are positioned to expand our business in the broad-based market, providing complete system solutions that enable customers to get to market faster,” said Necip Sayiner, President, CEO and Director of Intersil.