Chip Japanese giant Renesas is acquiring Israeli Celeno Communications for $ 315 million

Chip giant Renesas, a leading Japanese provider of advanced semiconductor solutions, is acquiring Celeno Communications from Raanana, which provides Wi-Fi solutions.
Under the agreement, Rensas will purchase Selno in cash, for $ 315 million (approximately $ 35.8 billion), of which $ 45 million will be paid only upon meeting a number of targets in accordance with the final terms of the agreement. The company's CEO and founder, Gilad Rosen, said in a conversation with journalists that the goals set are those that the company can successfully meet.
The acquisition significantly expands the portfolio of Rensas connectivity solutions, to which will be added Seleno's Wi-Fi technologies and software. Salno, founded in 2005, has already raised $ 140 million. Among the company's investors: Pitango, Poalim, Vintage, Red-Dot, Cisco, Samsung and OurCrowd.
Salno offers a wide range of wireless communication solutions, including on-chip systems for Wi-Fi communication and software solutions for markets such as: high-performance home networks, smart buildings, the corporate, industrial market and more. The system on a Sleno chip is the most compact available on the market for Wi-Fi 6 and 6E networks, and provides exceptional traffic speeds and improved security with low latency and low power consumption. The company has over 100 customers worldwide, and in total it has sold more than 80 million chips to its customers to date.
Salno employs about 170 people, 100 of them at its headquarters in Raanana and another 70 in Europe, India, China, and Taiwan. The company is currently recruiting additional employees for the development center, for the purpose of integrating into new development projects.
"The deal we announced today underscores our ongoing commitment to improving the performance and efficiency of electronic systems," said Heidoshi Hibata, President and CEO of Ransas. -Wi-Fi through which we can provide solutions for end-to-end connectivity, both for routers and connected end devices. "Rensas is now in a strong position to take advantage of the many opportunities arising from the rapid growth of the field of connectivity, and the demand created by the connected world."
"The acquisition is a significant move, both for our customers and our employees. Our depth and strength, combined with Ransas' leading embedded solution basket, will allow us to build together new areas of growth to which we can focus our efforts," said Gilad Rosen, President and CEO of Salno. "Renaiss will also provide us with capabilities in the areas of marketing and sales, which will bring our products to a wider range of customers."
According to Rosen, "We were able to bring to Israel a huge one that was not here. We will grow, recruit and grow a lot of workers in Israel and our branches in India and Ukraine. "The field of wireless connectivity, but we will be a full part of Rensas. In the near future, we will stay here in Raanana and create momentum of growth."
Rosen said that "the company had a number of takeover bids and there was a lot of investor satisfaction from the deal. There was a dilemma whether to continue or sell, and we decided it was ultimately the right move. The return to investors was good and they loved it. We operate in the field of chips and communications. "Economic parameters. The company is not a player of cloud and AI, and in our field it is a very good deal. The chip crisis also helped us, because we were able to produce solutions that large companies chose not to enter because of the crisis, among other things. , Concluded.