Renesas Electronics to acquire Integrated Device Technology for $6.7bn

Renesas Electronics agreed to acquire Integrated Device Technology (IDT) for $6.7bn in cash, at $49 per share, to strengthen its semiconductor portfolio for self-driving vehicles and IoT. The deal was expected to close in the first half of 2019.

“We were weak in chips for wireless networks needed for the Internet of things and connected cars. We’ve been wanting to get such assets.”manufacturingdigital.com

• 1 source
• manufacturingdigital.comRenesas announces $6.7bn purchase of IDT to increase chips for self-driving cars | Manufacturing DigitalSean Galea-PaceMay 16, 2020

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