SiTime tech could go into billions of Renesas chips, SiTime CEO says

SAN FRANCISCO: SiTime’s technology could eventually ‍end up in billions of chips from Japan’s Renesas, SiTime’s chief ⁠executive said on Thursday.

SiTime’s shares closed up 17.9% on Thursday, the first day of trading after it announced a deal worth up ‌to $3.2 billion ‌to acquire timing assets from Renesas. SiTime said it expects the Renesas ‌assets to generate $300 million in revenue in the first year after the deal’s anticipated close by the end of 2026, which will nearly double the $326.7 million in sales SiTime had in fiscal 2025.