CG Power to acquire Renesas' RF components business for $36 million

CG Power and Industrial Solutions signed an asset purchase agreement to acquire the Radio Frequency components business of Renesas Electronics America Inc for $36 million. The acquisition includes IP, tangible assets, and employees, and is expected to close in about 6 months.

“Through this acquisition, we aim to enhance India’s presence in the semiconductor design & development space, considered to be a high-growth and high-profitability sector.”thehindu.com

• 2 sources
• thehindu.comCG Power to acquire Radio Frequency components biz of Renesas for $36 million - The HinduPTIOct 5, 2024
• business-standard.comCG Power climbs after inking pact to acquire Renesas' RF Component biz | Capital Market News - Business StandardCapital MarketOct 7, 2024

Summarized from public sources; check the original articles before acting on it.