Renesas: Intersil Corporation to change name to Renesas Electronics America
Renesas Electronics announced that, following the approval of Board of Directors on October 27, it will change the company name of its consolidated subsidiary, Intersil, which it acquired on February 24, 2017. Whilst continuing to integrate its recently acquired subsidiary Intersil into its operations, Renesas also implemented a transition to a new organizational structure in July 2017. The aim of this transition is to move beyond its Japan-centric business management and to achieve a truly global company as “One Global Renesas,” a company that operates as a global entity not bound by any one region.
In January 2018 Intersil will execute an absorption-type merger with Renesas Electronics America a U.S. sales subsidiary of Renesas, and Intersil Communications, a wholly-owned subsidiary of Intersil Corporation, with Intersil Corporation as the surviving company. Intersil Corporation will then change its company name to Renesas Electronics America. In parallel the regional subsidiaries will be rectified, and from January 2018 onwards, all remaining Intersil subsidiaries will in principle, adopt company names starting with “Renesas” with an aim to accelerate the organic growth of the corporate group as “One Global Renesas.”