Renesas Electronics to Acquire US Semiconductor Maker IDT for $5.5 Billion

Source: Japan Times

According to an article published in Japan Times, Renesas Electronics Corp., a Japanese semiconductor manufacturer, is planning to acquire U.S. based Integrated Device Technology Inc. for around $5.5 billion. Representatives for IDT were not immediately available for comment.

This acquisition will strengthen Renesas' capabilities in developing chips for data communications crucial for self-driving cars. Renesas aims to obtain knowledge and skills for the development of semiconductors necessary for automated driving, as California-based IDT is known for its communications chips.

In 2017, Renesas completed the acquisition of U.S. semiconductor maker Intersil Corp. in a $3.2 billion buyout. Renesas was formed in 2010 through the merger of Renesas Technology Corp. - a joint venture set up by Hitachi Ltd. and Mitsubishi Electric Corp. - and NEC Electronics Corp.