Japanese chipmaker Renesas to buy software company Altium for $5.9 billion
Publishing timestamp: 2024-02-14 23:31:05
Summary
Renesas Electronics, a Japanese semiconductor firm, has announced its acquisition of Australian software company Altium for $5.89 billion in cash. The deal will allow Renesas to streamline its electronics design process and better manage chip circuit board design for customers. The acquisition is part of Japan's efforts to regain global leadership in the chip-making ecosystem. The deal has been approved by the boards of both companies but is subject to shareholder and regulatory approvals. This comes after Renesas agreed to acquire Transphorm, a Nasdaq-listed company, for $339 million.
Sentiment: POSITIVE
Tickers: TGAN, 6723.T-JP, ALU-AU,
Keywords: south asia, china, asia economy, altium ltd, east asia, renesas electronics corp, transphorm technology inc, australia, stock markets, japan, business news,