The all-cash acquisition is expected to close by the end of 2022, subject to customary closing conditions. The acquisition will enable Renesas to extend its reach in the radar market and boost its automotive and industrial sensing solution offerings.
With the advancements of ADAS (Advanced Driver Assistance Systems) in the automotive market, automotive sensor fusion demand is growing combining data from multiple sensors, such as cameras, radar and LiDAR (Light Detection and Ranging).
Radar accurately detects objects over long distances, day or night, even during harsh weather or other adverse environmental conditions and is considered an essential sensing technology for ADAS, and the number of radar sensors installed in vehicles is expected to triple over the next five years. To respond to such growth potential, Renesas is expanding its automotive product portfolio with Steradian’s radar technology.
“Radar is an indispensable technology for ADAS, which uses a complex combination of various sensors,” said Hidetoshi Shibata, President and CEO of Renesas. “The addition of Steradian's superb radar technology and engineering talent will allow us to extend our leadership in the automotive segments. We will also leverage their technology for industrial applications to drive our mid- to long-term business growth in both segments.”
"Renesas' industry-leading portfolio of embedded solutions and broad customer base serve as an ideal foundation to maximize Steradian’s radar technology worldwide,” said Gireesh Rajendran, CEO of Steradian. “By working together with the Renesas team, we will continue to develop innovative radar solutions that deliver the high performance, small footprint and low power consumption that our customers desire.”
Founded in 2016 as a start-up company, Steradian has extensive 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.
Renesas said that it will leverage Steradian's design assets and expertise to develop automotive radar products, with plans to start sample shipments by the end of 2022.
The company aims to develop complete automotive radar solutions that combine ADAS SoCs (System-on-Chips) for processing radar signals, power management ICs (PMICs), and timing products together with software for object recognition.
Collectively, these solutions will simplify the design of automotive radar systems and contribute to faster product development.
Renesas and Steradian have been collaborating since 2018, mainly in industrial applications. Steradian's radar technology is expected to be adopted in home security systems such as surveillance, traffic monitoring for people, cars and motorcycles, HMI (Human-Machine Interface) systems such as gesture recognition and docking systems in airport terminals.
For the last several years, Renesas has been expanding its connectivity and analogue products to complement its core processing products for embedded systems. With the acquisition of Steradian, Renesas will bring together the best possible devices and software to meet the growing demand for sensor technology solutions for automotive and industrial customers, to make their design work easier.
