Orrick Advises Wells Fargo in Financing for Synaptics’ Acquisition of Renesas

October.01.2014

​A multidisciplinary and international Orrick team represented longstanding client Wells Fargo Securities, LLC, as sole lead arranger, and Wells Fargo Bank, National Association, as administrative agent, in connection with the extension of $300 million in senior secured credit facilities (comprised of a term loan facility and revolving facility) to finance the acquisition by Synaptics Incorporated, a leading developer of human interface solutions, of Renesas SP Drivers, Inc., a Japanese company that supplies small and medium sized display driver ICs for smartphones and tablets.

Announced in June, Synaptics completed the acquisition on October 1, 2014, Tokyo time.  Synaptics expects that the acquisition will allow it to accelerate the time to market for touch and display driver integration solutions for the mobile market, along with extending the company’s leadership position in the market.

“This exciting transaction exemplifies Orrick’s strengths in the technology and finance sectors,” commented partner Alan Benjamin.  Speaking to the complexities of the deal, partner B. J. Rosen lauded “the cohesiveness of our cross-border and cross-practice teams that was essential in successfully maneuvering a myriad of complexities, including Japanese law, IP, tax and collateral matters.”

The multi-office Orrick team was led by partners B. J. Rosen and Alan Benjamin, with assistance from Emin Guseynov, David Lin and Stephanie Rivetz on finance matters, Toshihiko Tsuchiya and Mark Weeks on Japanese law matters; Stephen Lessard and John Narducci on tax matters; Alex Chachkes on intellectual property matters; and Thomas Mitchell on collateral matters.