Khaitan & Co advises Renesas Electronics Corporation on their proposed 100% acquisition of Steradian Semiconductor Private Limited

Renesas Electronics Corporation | Proposed 100% acquisition of Steradian Semiconductor Private Limited

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HEADINGS

DETAILS

1.

Sector

Semiconductors

2.

Announcement Date

31-Aug-2022

3.

Completion Date

Ongoing

4.

Name of Client

Renesas Electronics Corporation

5.

Acquirer Details

Renesas Electronics Corporation | Japan

6.

Target Details

Steradian Semiconductors Private Limited | India

7.

Deal Description

Renesas Electronics Corporation, a TSE-listed company and a premier supplier of advanced semiconductor solutions, has entered into a definitive agreement to acquire 100% of Steradian Semiconductors Private Limited, a fabless semiconductor company based in Bengaluru, India, that focuses on 4D Imaging Radars, in an all-cash transaction.

8.

Team Members

The core team consisted of Zakir Merchant (Partner), Sarthak Sarin (Partner), Eklavya Malvai (Senior Associate), Vishakha Singh (Senior Associate) and Utsav Lohia (Associate) with assistance from the following:

Intellectual Property aspects: Nishad Nadkarni (Partner), Janaksinh Jhala (Principal Associate) and Udita Kanwar (Senior Associate);

Employment aspects: Deepak Kumar (Partner) and Archika Dudhwewala (Senior Associate)

Tax aspects: Vinita Krishnan (Director), Sneh Shah (Principal Associate) and Jimmy Bhatt (Principal Associate)

Competition law aspects: Pranjal Prateek (Partner) and Armaan Gupta (Associate)

9.

Role of Firm

Khaitan & Co assisted and advised Renesas Electronics Corporation on their proposed 100% acquisition of Steradian Semiconductor Private Limited, a 4D Imaging Radars-focused fabless semiconductor company based in Bengaluru, India, as India counsel.

10.

Other legal advisors if any with names of Lead Lawyers

Morrison & Foerster LLP acted as the global counsel for Renesas Electronics Corporation and was represented by Gary Mitchel Smith (Partner), Rika Saeki (Of Counsel), Adam S. Harris (Associate), Ani Hamparsumyan (Associate), Chantelle S. Southerland (Associate) and Letian Ge (Associate)

11.

Press Coverage

https://www.renesas.com/us/en/about/press-room/renesas-acquire-steradian-expand-its-reach-radar-market https://www.businesswire.com/news/home/20220830006036/en/Renesas-to-Acquire-Steradian-to-Expand-Its-Reach-in-the-Radar-Market https://www.businesstoday.in/latest/corporate/story/japanese-fab-manufacturer-renesas-to-acquire-indias-fabless-steradian-346073-2022-09-01