Renesas Electronics Corporation (TSE:6723) entered into definitive agreement to acquire Steradian Semiconductors Pvt. Ltd. for ¥6.08 billion on August 31, 2022. The transaction is in an all-cash transaction.
The acquisition is subject to customary closing conditions. The acquisition of Steradian's radar technology will enable Renesas to extend its reach in the radar market and boost its automotive and industrial sensing solution offerings. The acquisition is expected to close by the end of 2022.
Zakir Merchant, Sarthak Sarin, Nishad Nadkarni, Vinita Krishnan, Deepak Kumar and Pranjal Prateek of Khaitan & Co. acted legal advisor for Renesas Electronics Corporation (TSE:6723). Gary Mitchel Smith and Rika Saeki of Morrison & Foerster LLP acted as the global counsel for Renesas Electronics Corporation.