Key Stream to Transfer Wireless LAN Business to Renesas

Key Stream Corporation and Renesas Technology Corp. agreed to 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.

About Renesas Technology Corp.
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.

Overview of Key Stream Corporation
Key Stream Corporation was established in December 2000 with the goal of developing and marketing wireless LAN chipsets. In the intervening years it has developed and brought to market wireless LAN communication processors supporting the IEEE 802.11a, 11b, and 11g standards and RF chips. Key Stream supplies wireless LAN chipsets featuring wireless LAN communication processors with embedded CPUs and the company’s exclusive low-power technology, mainly for mobile embedded applications. Key Stream is unique in providing a comprehensive range of services including LSI design; firmware, driver, and application development; reference designs using chipsets; and consulting.