Renesas Electronics Corporation announced it has entered into a definitive agreement with Celeno Communications, a provider of Wi-Fi solutions, under which Renesas will acquire Celeno in an all cash transaction valuing Celeno at approximately US$315 million, assuming the payment of certain milestone payments as set forth in the definitive agreement. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close by the end of calendar year 2021, subject to customary closing conditions.

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