Renesas to Acquire Celeno for $315 Million
28 October, 2021
Celeno provides High-end Wi-Fi chipsets. The deal is part of Renesas' Connectivity Strategy. Plans to develop Automotive connectivity solutions in Israel, including V2X chips
Above:President & CEO Gilad Rozen. Photo: Techtime
Renesas Electronics announced it has entered into a definitive agreement to acquire Celeno Communications from Raanana (near Tel aviv) for an amount of US$315 million. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close by the end of 2021. The acquisition significantly enhances Renesas’ connectivity portfolio with the addition of Celeno’s Wi-Fi technologies and software expertise.
Celeno offers advanced Wi-Fi chipsets and software solutions, including the most compact chipset for Wi-Fi 6 and 6E. Celeno has developed a unique Wi-Fi Doppler Imaging technology, that provided local radar functionality using its Wi-Fi connectivity chip. The deal is a part in Renesas’ new connectivity strategy which was also culminated with the US$5.9 Billion merger with Dialog in February 2021.
“Renesas is now strongly positioned to capitalize on the growing opportunities from the massive rise in connectivity and requirements created by today’s increasingly connected world,” said Hidetoshi Shibata, President and CEO of Renesas. In addition to expanding the solution offering, the acquisition also increases Renesas’ engineering and design scale with Celeno’s design center in Israel. Techtime has learned that the new center will develop connectivity solutions for the Automotive industry, including V2X chips.
Celeno was established in 2005 by the President & CEO Gilad Rozen. It received US$140 Million investments from high profile bodies such as Cisco, Samsung and major VCs. Its main competitors are Qualcomm, Broadcom and Mediatek. Most of its 170 employees are located in Israel. During 2020 Celeno shipped 15 million chips to costumers, for total sales of US$37 Million.
“Our depth and strength in connectivity combined with Renesas’ industry leading portfolio of embedded solutions will allow us, together, to open up new growth areas we can target,” said Gilad Rozen.” Renesas will also provide us with the go-to-market capabilities to bring Celeno to a broader range of customers.”