SiTime Corporation filed an amendment to its Form 8-K to provide required financial statements and pro forma information for the acquisition of Renesas Electronics' Timing Product Business. The transaction closed on July 1, 2026, with a total consideration of approximately $4 billion, comprising $1.5 billion in cash and 3,558,691 shares of SiTime common stock valued at $703.84 per share. SiTime funded the acquisition using existing cash, including proceeds from $1.35 billion in convertible senior notes issued in May 2026. The acquired business generated $153 million in revenue for the six months ended June 30, 2026. SiTime designs and manufactures timing devices, including crystal oscillators and clock generators.

SiTime Corporation reported second quarter 2026 financial results, announcing net revenue of $157.4 million, a 127% increase from the prior year period's $69.5 million. GAAP diluted earnings per share were $0.66, while non-GAAP diluted EPS reached $2.34. The company completed its acquisition of Renesas' Timing Business on July 1, 2026, adding over 550 clocking products to its portfolio and funding the transaction with proceeds from a convertible senior notes offering. Total cash, equivalents, and short-term investments stood at $1,921 million as of June 30, 2026. Additionally, SiTime granted inducement RSUs to newly hired employees, including those acquired from Renesas. SiTime Corporation operates in the semiconductor industry, providing MEMS-based precision timing solutions.

SiTime Corporation completed the acquisition of Renesas Electronics America's timing business on July 1, 2026, for approximately $1.5 billion in cash and 3,558,691 shares of common stock. The company also entered into a $200 million senior secured revolving credit facility with Wells Fargo Bank, National Association, effective June 30, 2026. SiTime Corporation is a semiconductor company that provides timing solutions for various electronic applications.