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Electronics news

Renesas to acquire U.S.-based Altium for $5.9 billion

Japanese semiconductor company Renesas Electronics said it will acquire Sydney-listed software company Altium to expand operations amid rapid technological advances in the chip industry.

By acquiring Altium, which provides PCB design tools for electronic device development, Renesas intends to create an electronics design platform that is more efficient and easier to use than existing services, the Japanese company said.

Renesas President Hidetoshi Shibata, who spoke at an online press conference, said companies that produce chips using traditional methods may lose their competitive advantage as designing electronic devices becomes increasingly complex.

He said the acquisition of Altium, headquartered in California, will allow Renesas to learn what chips customers really need and offer better solutions.

The Japanese company said it will acquire all of Altium's outstanding shares in the second half of 2024 and make it a subsidiary.

Renesas has acquired various chip companies in recent years, including Integrated Device Technology Inc, Dialog Semiconductor Plc, Panthronics AG and Celeno Communications.