Japanese semiconductor company Renesas explores $2 billion sale of timing unit

Renesas Electronics Corp is exploring a sale of its timing division in a deal that could value the business at close to $2 billion, according to people familiar with the matter. 

Why it matters

The timing division develops and supplies specialized integrated circuits that manage clock, timing and synchronization functions. These components are critical for ensuring the orderly flow of data in high-speed networking equipment. Key markets for the unit include data centers, where its products support communication between servers, as well as telecommunications infrastructure and the build-out of 5G mobile networks.