Japanese semiconductor company Renesas acquires US Altium for 8 trillion won

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Japanese semiconductor giant Renesas Electronics announced on the 15th that it will acquire the US electronic circuit design company Altium for 887.9 billion yen (approximately 7.9 trillion won).

According to NHK Broadcasting and Jiji Press, Renesas plans to complete the acquisition process by the second half of this year after obtaining approval from Altium shareholders and relevant authorities. The acquisition amount is about 9.1 billion Australian dollars, equivalent to 887.9 billion yen.

Renesas, which produces semiconductors used in automobiles and industrial equipment, decided on this acquisition considering the increasing complexity of semiconductor chip development and design due to recent performance enhancements. Through acquiring Altium, it aims to improve design system efficiency, enhance productivity, and boost competitiveness.

Previously, Renesas accelerated its strategy to strengthen competitiveness through mergers and acquisitions (M&A), including acquiring a British semiconductor design company in 2021.

Headquartered in California, USA, Altium develops software that allows PCB design used in semiconductor products to be done on the cloud. It was established in Australia and is listed on the Australian stock exchange. As of June 2023, its consolidated sales amounted to 263.3 million dollars, with an operating profit of 86.4 million dollars.

At an online press conference on the same day, Renesas President Shibata Hidetoshi emphasized, "By creating and providing new solutions together, we will shape the future," adding, "We have made several cross-border acquisitions in recent years, but this acquisition is very different in nature." Altium CEO Alram Milkasemi also called it "a major event in the industry" and said, "It will bring about significant change."