Intersil to Start Operations as Renesas Electronics America in January 2018
Renesas Electronics Corporation today announced the integration of Intersil Corporation as a legal entity and a new branding policy following the acquisition of Intersil on February 24, 2017. Effective January 1, 2018, Intersil Corporation is expected to operate in the market under the name of Renesas Electronics America Inc. The completion of Renesas’ U.S. entity integration marks a major milestone in the integration process, which remains well on track. As well, the integration process in Japan and Korea is expected to be completed on or about January 1, 2018. The remaining Intersil entities are expected to be integrated in the near future.
“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,” said Bunsei Kure, Representative Director, President and CEO of Renesas Electronics Corporation. “With the enhanced global strength, Renesas is in the best position to further strengthen its leadership in the global semiconductor market.”
“The promise of the Renesas and Intersil integration has already begun to materialize as we’ve started operating as one company,” said Necip Sayiner, Executive Vice President of Renesas, President of Renesas Electronics America and President, CEO and Director of Intersil. “We are fully combining our portfolios, technologies and talent to maximize 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.”
1) US entity integration and corporate name changes
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. Intersil Corporation will then change its name to Renesas Electronics America Inc.
Prior to this entity integration, Renesas implemented a transition to a new organizational structure in July 2017 to accelerate the integration of the Intersil business. The aim of this transition is to move beyond its Japan-centric business management and to achieve a truly global company that acts as “One Global Renesas,” a company that operates as a global entity.
2) New branding policy
The rollout of the Renesas brand will start in all locations worldwide in 2018. Following the entity integration, all branches and offices in the U.S. will be rebranded with the Renesas logo. The rebranding of other locations will follow regional timelines. With regards to the product brand, all Intersil products will be rebranded as Renesas products from January 2018 onwards with a few exceptions: (1) products that are currently under mass production or under development (Note); and (2) products for the military and aerospace segments.
(Note) New products, excluding military and aerospace products, will be rebranded as Renesas products. These new products do not include products of a simple derivative or a minor revision of an existing product.
3) Integration of Intersil’s subsidiaries
In parallel, Renesas will continue to integrate the regional subsidiaries, and from January 2018 onwards, all remaining Intersil subsidiaries will, in principle, start to adopt company names starting with “Renesas” with the aim of accelerating the organic growth of the corporate group as “One Global Renesas.”
Renesas has launched its new website introducing Renesas and Intersil’s featured products at https://www.renesas.com/en-hq/about/company/integration.html.