transfer Key Stream Corporation's wireless LAN business to Renesas on
April 1.
Key Stream Corporation develops and sells extremely low-power wireless
LAN chipsets and related software. To fortify Key Stream's wireless
LAN semiconductor device business, Renesas has invested in the company
since 2007.
Renesas and Key Stream have jointly developed and supplied wireless
LAN solutions for mobile and digital consumer applications by
combining Key Stream wireless LAN chipsets with Renesas
microcontroller and SoC products. Now, due to the harsh business
environment and bleak outlook, Renesas and Key Stream have concluded
that it will be challenging for Key Stream to continue their business
independently and have agreed to transfer a large share of the Key
Stream wireless LAN business to Renesas with the intent of continuing
support for existing customers. As a result, Renesas will provide
customer support in the future.
Renesas Technology Corp. is one of the world's leading semiconductor
system solutions providers for mobile, automotive and PC/AV (Audio
Visual) markets and the world's No. 1 supplier of microcontrollers. It
is also a leading provider of LCD Driver ICs, Smart Card
microcontrollers, RF-ICs, High Power Amplifiers, Mixed Signal ICs,
System-on-Chip (SoC), System-in-Package (SiP) and more. Established in
2003 as a joint venture between Hitachi, Ltd. (TOKYO:6501) (NYSE:HIT)
and Mitsubishi Electric Corporation (TOKYO:6503), Renesas Technology
achieved consolidated revenue of JPY 951 billion in FY2007 (ended
March 2008). Renesas Technology is based in Tokyo, Japan and has a
global network of manufacturing, design and sales operations in 17
countries, with 26,800 employees worldwide.
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