Steradian Semiconductors, a Bengaluru-based fabless semiconductor company that providers 4D imaging radar solutions, is being acquired by Renesas Electronics Corporation, a Japanese firm that supplies advanced semiconductor solutions.
Renesas Electronics said that it has entered into an agreement with the Indian semiconductor company in an all-cash transaction. The acquisition is expected to be completed by the end of the calendar year.
“We are one of the earliest investors in Steradian journey. We are associated with them from the day zero,” Sateesh Andra, Managing Director of Endiya Partners, an investment firm, told Business Line.
“We have invested about $1.5 million in the Bengaluru-based semiconductor company. This acquisition gives us an exit,” he added.
“The acquisition of Steradian’s radar technology will enable Renesas to extend its reach in the radar market and boost its automotive and industrial sensing solution offerings,” a Renesas executive said.
Founded in 2016, Steradian has developed expertise in radar technology. Operating in the 76-81 GHz band, Steradian’s powerful 4D radar transceivers offer a high level of integration in a small form factor and high power efficiency, a statement said.