Expanding its reach in the radar market, this acquisition will Bolster Renesas’ Automotive and Industrial Sensing Portfolio.
A fabless semiconductor company based in Bengaluru, India has been acquired by Renesas Electronics Corporation in a definitive agreement, in an all-cash transaction. The former provides 4D imaging radar solutions, and the acquisition is expected to close by the end of 2022, subject to customary closing conditions. Expanding its reach in the radar market, this acquisition will Bolster Renesas’ Automotive and Industrial Sensing Portfolio.
With ADAS (Advanced Driver Assistance Systems) advancing in the automotive market, demand for multiple sensors, such as cameras, radar and LiDAR (Light Detection and Ranging) is increasing. Radar in particular accurately detects objects over long distances, day or night, even during harsh weather or other adverse environmental conditions.
Hidetoshi Shibata, President and CEO of Renesas, said “The addition of Steradian’s superb radar technology and engineering talent will allow us to extend our leadership in the automotive segments. We will also leverage their technology for industrial applications to drive our mid- to long-term business growth in both segments.”
Gireesh Rajendran, CEO of Steradian, said “By working together with the Renesas team, we will continue to develop innovative radar solutions that deliver the high performance, small footprint and low power consumption that our customers desire.”
Steradian was founded in 2016 as a start-up company and operates in the 76-81 GHz band. Both companies have been collaborating since 2018.
