SiTime to acquire Renesas timing business for $1.5B cash + stock; sees $300M revenue

SITIME Corp

Purchase price: $1.5B cash + ~4.13M shares of SiTime common stock (collar: $308.67-$417.61 VWAP).
Acquired business projects $300M revenue in 12 months post-close at ~70% gross margin; ~75% from AI-Datacenter-Comms.
Funded with $900M committed bridge loan from Wells Fargo; close expected by end of 2026, subject to regulatory approvals.
Deal accelerates SiTime's path to $1B revenue; expected to be accretive to non-GAAP EPS in first year post-close.
Renesas CEO Hidetoshi Shibata to join SiTime board after transaction closes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SITIME Corp entered into Commitment Letter with Wells Fargo Securities, LLC and Wells Fargo Bank, National Association valued at up to $900.0 million (effective 2026-02-04).

Action: entry
Agreement: credit facility
Counterparty: Wells Fargo Securities, LLC and Wells Fargo Bank, National Association
Value: up to $900.0 million
Effective: 2026-02-04

Exact text from the filing

In connection with its entry into the Asset Purchase Agreement, on February 4, 2026, the Company entered into a debt financing commitment letter (the "Commitment Letter") with Wells Fargo Securities, LLC and Wells Fargo Bank, National Association (collectively, "Wells Fargo"), pursuant to which Wells Fargo has committed to provide the Company with debt financing to fund a portion of the Cash Consideration in an aggregate principal amount of up to $900.0 million in the form of a 364-day senior secured bridge loan facility (the "Bridge Facility"), subject to customary conditions.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SITIME Corp entered into Asset Purchase Agreement with Renesas Electronics America Inc. valued at approximately $1,500,000,000 in cash (effective 2026-02-04).

Action: entry
Agreement: asset purchase
Counterparty: Renesas Electronics America Inc.
Value: approximately $1,500,000,000 in cash
Effective: 2026-02-04

Exact text from the filing

On February 4, 2026, SiTime Corporation, a Delaware corporation ("SiTime" or the "Company") entered into an Asset Purchase Agreement (the "Asset Purchase Agreement") with Renesas Electronics America Inc., a California corporation ("Renesas"), pursuant to which Renesas will and will cause certain of its affiliates to sell, transfer, assign and convey to SiTime all of their right, title and interest in, to and under certain assets related to the timing business of Renesas Electronics Corporation (the "Business") for an aggregate purchase price of approximately $1,500,000,000 in cash ("Cash Consideration") and 4,130,644 shares of common stock

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329 material agreements filed in the last 30 days. Browse all material agreements →

SITIME Corp filing history →

Source: SEC EDGAR

accession 0001193125-26-037802

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