Renesas to Acquire Panthronics to Extend Connectivity Portfolio with Near-Field Communication Technology

Enhanced Connectivity Portfolio to Capture Growing Market Opportunities for Fintech, IoT, Asset Tracking, and Wireless Charging

Renesas Electronics Corporation (TSE:6723), a premier supplier of advanced semiconductor solutions, today announced its wholly owned subsidiary has entered into a definitive agreement with the shareholders of Panthronics AG (“Panthronics”), a fabless semiconductor company specializing in high-performance wireless products, under which Renesas will acquire Panthronics in an all-cash transaction. The acquisition will enrich Renesas’ 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.

NFC has emerged as a de facto standard in the digital economy and touches many aspects of daily life. Fintech, such as mobile point-of-sale (mPoS) terminals and contactless payment, IoT, asset tracking, and wireless charging are highlights of NFC’s increasing presence. Headquartered in Graz, Austria, Panthronics has been offering advanced NFC chipsets and software that are easy to apply, innovative, small-in-size, and highly efficient for payment, IoT, and NFC wireless charging. Renesas and Panthronics have been addressing the rising demand of NFC as partners since 2018. Acquiring Panthronics’ competitive NFC technology will provide Renesas with in-house capability to instantly capture growing and emerging market opportunities for NFC.

Combining Panthronics’ NFC technology with Renesas’ broad product portfolio and security functions in microcontrollers (MCU) / microprocessors (MPU) will provide Renesas’ wide customer base with a multitude of options to create innovative, ready-to-market NFC system solutions. Renesas and Panthronics have already launched four joint designs of NFC system solutions to date. These include solutions catering for mPoS terminals, wireless charging, and wall box smart metering platforms. The companies have also developed an NFC connectivity board that is fully integrated into the Renesas Quick-Connect Studio ecosystem, which allows customers to add features quickly and easily to MCU development boards. This enables a “plug and play” addition of full-featured, high-end NFC connectivity. Several more systems for PoS, IoT, wireless charging, and mobile are in development. Furthermore, the merits of Panthronics’ technology are also expected to be leveraged for Renesas’ automotive solutions, such as digital key management.

“Connectivity has been a priority area of ours, expanding and differentiating the realm of solutions we offer,” said Hidetoshi Shibata, President and CEO of Renesas. “We see tremendous opportunities for Panthronics’ NFC connectivity technology to benefit our customers in growing areas that span across fintech, IoT, and automotive spheres.”

The acquisition has been unanimously approved by the board of directors of Renesas and is expected to close by the end of the calendar year 2023, subject to required regulatory approval and customary closing conditions.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. A leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, YouTube, and Instagram.

Cautionary note regarding forward-looking statements

This announcement may contain certain statements that are, or may be deemed to be, forward-looking statements with respect to the financial condition, results of operations and business of Renesas and/or Panthronics and/or the combined group following completion of the Acquisition and certain plans and objectives of Renesas with respect thereto. These forward-looking statements can be identified by the fact that they do not relate to historical or current facts. Forward-looking statements also often use words such as ‘anticipate’, ‘target’, ‘continue’, ‘estimate’, ‘expect’, ‘‘forecast’, ‘intend’, ‘may’, ‘plan’, ‘goal’, ‘believe’, ‘hope’, ‘aims’, ‘continue’, ‘could’, ‘project’, ‘should’, ‘will’ or other words of similar meaning. These statements are based on assumptions and assessments made by Renesas and/or Panthronics (as applicable) in light of their experience and perception of historical trends, current conditions, future developments and other factors they believe appropriate. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this announcement.

Forward-looking statements are not guarantees of future performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this announcement. Neither Renesas nor Panthronics undertake any obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by applicable law.

There are several factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business and competitive environments, market and regulatory forces, future exchange and interest rates, changes in tax rates and future business combinations or dispositions. If any one or more of these risks or uncertainties materializes or if any one or more of the assumptions prove incorrect, actual results may differ materially from those expected, estimated or projected. Such forward looking statements should therefore be construed in the light of such factors.

No member of the Renesas group or the Panthronics group nor any of their respective associates, directors, officers, employers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will actually occur.

Except as expressly provided in this announcement, no forward-looking or other statements have been reviewed by the auditors of the Renesas group or the Panthronics group. All subsequent oral or written forward-looking statements attributable to any member of the Renesas group or the Panthronics group, or any of their respective associates, directors, officers, employers or advisers, are expressly qualified in their entirety by the cautionary statement above.

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