Japanese semiconductor manufacturer Renesas Electronics acquires PCB design software developer Altium for a total of approximately 900 billion yen
On February 15, 2024,
Notice regarding acquisition of shares of Altium (making it a subsidiary) | Renesas
https://www.renesas.com/jp/ja/about/press-room/regarding-acquisition-stock-altium-limited
Japan chipmaker Renesas to buy software company Altium for $5.9 bln | Reuters
https://www.reuters.com/technology/japanese-chipmaker-renesas-buy-australian-software-firm-altium-59-bln-2024-02-14/
Japan's Renesas to Buy Software Firm Altium for $6 Billion - Bloomberg
https://www.bloomberg.com/news/articles/2024-02-14/japan-s-renesas-to-buy-software-firm-altium-for-6-billion
Renesas Electronics is a semiconductor manufacturer that was created through the business integration of Renesas Technology, which was spun off from Mitsubishi Electric and Hitachi, and NEC Electronics, which was spun off from NEC. Boasting a high global share in the fields of automotive semiconductors, general-purpose microcontrollers , and analog semiconductors, the UK market research company Informa announced that it has surpassed Kioxia as the top Japanese semiconductor company in the 2022 sales ranking of semiconductor companies. It is ranked 16th.
On February 15, Renesas Electronics announced that it will acquire Altium, a PCB design software development company based in the United States and listed on the Australian Stock Exchange. Altium has developed Altium Designer , a PCB design software with automatic output functionality, and Renesas Electronics announced in June 2023 that it had unified its PCB design tools to the Altium 365 cloud platform.
In this acquisition agreement, Renesas Electronics will pay 68.5 Australian dollars (approximately 6,700 yen) per share, which is a 33.6% premium over Altium's closing price on February 14, 2024, for a total acquisition price of 9.1 billion Australian dollars. Masu. The acquisition will be financed with cash and bank loans. Foreign media outlet Bloomberg reports that this is the largest acquisition ever of an Australian listed company by a Japanese buyer.
According to Renesas Electronics, the acquisition was unanimously approved by the boards of directors of both companies. The acquisition is expected to be completed in the second half of 2024, subject to approval from Altium shareholders, Australian courts and other regulatory authorities.
Renesas Electronics said in a statement to investors that the design of electronic devices and systems is becoming increasingly complex as technology advances. Designers are being challenged to design functional, efficient, and cost-effective systems with shorter development cycles.
Therefore, by making Altium, which has established a global position in PCB design software, a subsidiary, it will bring designers an improved user experience and innovation at the system level. Renesas Electronics said, ``This is the first important step in advancing our digitalization strategy.''
'I strongly believe that electronics is the most important industry in building a smart and sustainable world,' said Aram Mirkazemi, CEO of Altium. 'This commitment to making everything available to everyone resonates strongly with Altium.'
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