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Japanese chipmaker Renesas to buy software company Altium for $5.9 billion - TL;DR CNBC

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: TGAN6723.T-JPALU-AU

Keywords: south asiachinaasia economyaltium ltdeast asiarenesas electronics corptransphorm technology incaustraliastock marketsjapanbusiness news

Source: https://www.cnbc.com/2024/02/15/japanese-chipmaker-renesas-to-buy-software-firm-altium-in-5point9-billion-deal.html


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