Acquiring Panthronics’ NFC technology will provide Renesas with the in-house capability to capture market opportunities for Near-Field Communication
A leading supplier of advanced semiconductor solutions, Renesas Electronics Corporation recently announced that its wholly-owned subsidiary has entered into a definitive agreement with the shareholders of Panthronics AG. Notably, Panthronics identifies as a fabless semiconductor company specializing in high-performance wireless products, under which Renesas will acquire Panthronics in an all-cash transaction. Renesas believes that NFC has emerged as a de facto standard in the digital economy and touches many aspects of daily life and the acquisition will enrich its portfolio of connectivity technology, extending its reach into high-demand Near-Field Communication (NFC) applications in fintech, IoT, asset tracking, wireless charging, and automotive applications. It is noteworthy that the two companies have been partnering since 2018 to address the rising demand for NFC.
The company noted that Austria-headquartered Panthronics offers advanced NFC chipsets and software that are easy to apply, innovative, small-in-size, and highly efficient for payment, IoT, and NFC wireless charging. It is important to note that the acquisition has been unanimously approved by the board of directors of Renesas and subject to required regulatory approval and customary closing conditions, it is expected to close by the end of the calendar year 2023.
President and CEO of Renesas, Hidetoshi Shibata said: “Connectivity has been a priority area of ours, expanding and differentiating the realm of solutions we offer. We see tremendous opportunities for Panthronics’ NFC connectivity technology to benefit our customers in growing areas that span across fintech, IoT, and automotive spheres.”
Tokyo-headquartered Renesas Electronics Corporation is a leading global provider of microcontrollers. It claims to combine its expertise in embedded processing, analogue, power and connectivity to deliver complete semiconductor solutions. The Renesas Ready Partner Network leverages pre-developed third-party software and hardware building blocks. The solutions work on real-world customer problems with Renesas MCU & MPU products.