© mikael damkier dreamstime.com Business | September 11, 2018
It's official - Renesas to acquire IDT for $6.7 billion
The Japanese manufacturer is looking to grow with the acquisition of the analog mixed-signal company, adding complementary product lines and strengthening its presence in several segments.
The companies announce that they have signed a definitive agreement under which Renesas will acquire IDT for USD 49.00 per share in an all-cash transaction representing an equity value of approximately USD 6.7 billion. The boards of directors of both companies have already unanimously approved the transaction, and the transaction – if all goes well in regards to regulatory approvals – is expected to close in the first half of 2019. The acquisition will provide Renesas with access to a vast array of robust analog mixed-signal capabilities in embedded systems, including RF, advanced timing, memory interface & power management, optical interconnect, wireless power, and smart sensors. IDT’s analog mixed-signal products for data sensing, storage and interconnect are key devices that support the growth of data economy. The acquisition of these products enables Renesas to extend its reach to fast-growing data economy-related applications including data center and communication infrastructure, and to strengthen its presence in the industrial and automotive segments. "This acquisition will bring us complementary, market-leading analog mixed-signal assets and an incredibly talented group of professionals to help us boost our embedded solution capabilities," says Bunsei Kure, Representative Director, President and CEO of Renesas, in the press release.. “IDT’s products combined with our MCUs, SoCs and power management ICs will enable Renesas to widen its product offerings as well as to expand its reach into areas such as the growing data economy-related space.” “The combination of Integrated Device Technology’s analog mixed-signal leadership with Renesas’ world-leading microcontroller and automotive/industrial franchise creates a new global powerhouse,” says Gregory L. Waters, President and CEO of IDT.
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