SiTime to Acquire Renesas Timing Business, Accelerating Path to $1 Billion in Revenue

SiTime Corporation is acquiring Renesas' timing business, expanding its clocking portfolio and extending its reach in comms, enterprise, and datacenter applications. The acquisition is expected to generate $300 million in revenue in the 12 months following the close, and solidify SiTime's position as a pure-play Precision Timing company. The companies have also signed a partnership MOU to explore SiTime's MEMS resonator integration into Renesas' embedded computing products.