Deals
Renesas to Buy Software Firm Altium for $6 Billion
- Altium jumps closer to deal price which represents 34% premium
- Toyota supplier seeks to lower reliance on automotive chips
Semiconductor maker Renesas Electronics Corp. agreed to buy software firm Altium Ltd. for A$9.1 billion ($5.9 billion), the biggest acquisition yet of an Australian-listed company by a Japanese buyer.
The Tokyo-based supplier to Toyota Motor Corp. said it will acquire Altium, whose software is used by the likes of Bang & Olufsen and Leica Geosystems AG, as part of a push to expand its product lineup. The companies said they aim to create a one-stop platform that allows manufacturers to better design electronics from the system level.