SANTA CLARA, Calif. & TOKYO, July 01 — SiTime Corporation (Nasdaq: SITM) (“SiTime” or the “Company”), the Precision Timing company, today announced that it has completed the acquisition of certain assets from Renesas Electronics Corporation (TSE: 6723) (“Renesas”).
Rajesh Vashist, chairman and CEO of SiTime, said, “SiTime has created the Precision Timing category, and is the only semiconductor company fully dedicated to all aspects of timing. The acquisition of Renesas’ timing business marks a monumental milestone that will transform SiTime. We are accelerating our path to $1B in revenue, growing our clocking portfolio by 10x, expanding our presence in the high-growth AI datacenter market and scaling our gross margins to the higher end of our target range. As we continue to innovate to provide the most compelling system solutions that solve difficult timing problems, we expect to get even closer to our customers and become the default timing choice, not just for oscillators but also for clocks and resonators. The opportunity ahead is massive, we are just getting started, and we look forward to delivering exceptional value to our shareholders.”
SiTime announced the acquisition in February 2026. With the transaction, the company has acquired from Renesas the preeminent brand in clocking with a 30-year legacy of highly differentiated clocking products and an enviable financial profile. It has delivered sustained financial performance of approximately 70% gross margin. It serves over 10,000 customers, with nearly 75% of revenue in the AI-Datacenter-Comms segment and the remainder in industrial and automotive. In the 12 months following this acquisition, the business is expected to generate at least $300 million in revenue, catalyzed by SiTime’s sales and go-to-market expertise.
Hidetoshi Shibata, CEO of Renesas, said, “The completion of this transaction marks an important milestone, but it is just the beginning of our journey with SiTime. Together, we will explore a strategic collaboration to integrate SiTime’s MEMS resonators into Renesas’ embedded computing products for the next generation of intelligent devices.”
The companies signed a partnership MOU in February 2026, alongside the acquisition announcement, to explore strategic collaboration. Hidetoshi Shibata is expected to join SiTime’s Board of Directors.