SiTime Confirms Discussions with Renesas Regarding Potential Acquisition of Renesas’ Timing Business

SANTA CLARA, Calif.--(BUSINESS WIRE)--SiTime Corporation (NASDAQ: SITM), the Precision Timing company, today confirmed that it is in discussions with Renesas Electronics Corporation (“Renesas”) regarding a potential acquisition of Renesas’ timing business.

No agreement has been reached, and there can be no assurance that any transaction will result from these discussions or on what terms any transaction may occur.

The Company does not intend to make further comments with respect to the discussions unless and until required to do so.

About SiTime

SiTime Corporation is the Precision Timing company. Our semiconductor MEMS programmable solutions offer a rich feature set that enables customers to differentiate their products with higher performance, smaller size, lower power, and better reliability. With more than 4 billion devices shipped, SiTime is changing the timing industry. For more information, visit www.sitime.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Security Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding any transaction that the company may pursue, statements regarding future expectations, outcomes or results of the company, goals and objectives, and other similar expressions concerning matters that are not historical facts. The company undertakes no obligation to update or revise any of the forward-looking statements contained herein, whether as a result of new information, future events or otherwise.