Renesas Mulling Acquisition of U.S. Chipmaker IDT
Tokyo, Aug. 31 (Jiji Press)--Major Japanese chipmaker Renesas Electronics Corp. <6723> said Friday it is considering the acquisition of U.S. industry rival Integrated Device Technology Inc.
The move is expected to cost Renesas some 600 billion yen, informed sources said. The two companies are believed to be in the final stage of talks on the matter, according to the sources.
By acquiring IDT, which has strength in semiconductors used in communications devices, Renesas aims to enhance its technologies related to the Internet of Things and autonomous driving.
Based in San Jose, California, IDT posted sales of 842.8 million dollars in the business year to March 2018.
Renesas has been accelerating its business reconstruction with support from government-backed investment fund Innovation Network Corp. of Japan, focusing on semiconductors for automobiles.
[Copyright The Jiji Press, Ltd.]