SiTime Is Said Near $3 Billion Deal for Renesas Timing Unit

Analog chipmaker SiTime Corp. is nearing an agreement to acquire Renesas Electronics Corp.’s timing unit in a deal that could be worth about $3 billion, according to people familiar with the matter.

Santa Clara, California-based SiTime is putting the final touches on a purchase of the Renesas division, which makes the clocks that synchronize signals in wireless infrastructure, the people said, asking not be identified because the discussions aren’t public.