Renesas to acquire Transphorm
Acquisition will provide Renesas with in-house GaN technology
Renesas will acquire GaN specialist Transphorm for approximately $339 million. The acquisition will provide Renesas with in-house GaN technology, expanding its reach into fast-growing markets such as EVs, computing (data centrres, AI, infrastructure), renewable energy, industrial power conversion and fast chargers/adapters.
Renesas has recently announced the establishment of an in-house SiC production line, supported by a 10 year SiC wafer supply agreement. The addition of Transphorm will expand its WBG portfolio with GaN technology and expertise.
Demand for GaN is predicted to grow by more than 50 percent annually, according to an industry study. Renesas says it will implement Transphorm’s auto-qualified GaN technology to develop new enhanced power solution offerings, such as X-in-1 powertrain solutions for EVs, along with computing, energy, industrial and consumer applications.
“Transphorm is a company uniquely led by a seasoned team rooted in GaN power and with origins from the University of California at Santa Barbara,” said Hidetoshi Shibata, CEO of Renesas. “The addition of Transphorm’s GaN technology builds on our momentum in IGBT and SiC. It will fuel and expand our power portfolio as a key pillar of growth, offering our customers the full ability to choose their optimal power solutions.”
“Combined with Renesas’ world-wide footprint, breadth of solution offerings and customer relationships, we are excited to pave the way for industry-wide adoption of WBG materials and set the stage for significant growth. This transaction will also allow us to offer further expanded services to our customers and deliver significant immediate cash value to our stockholders,” said Primit Parikh, co-founder, president and CEO of Transphorm and Umesh Mishra, co-founder and CTO of Transphorm. “Additionally, it will provide a strong platform for our exceptional team to further Transphorm’s leading GaN technology and products.”
The transaction is expected to close in the second half of calendar year 2024, subject to Transphorm stockholder approval, required regulatory clearances and the satisfaction of other closing conditions.
Pictured above: Transphorm CEO Primit Parikh and Renesas CEO Hidetoshi Shibata
