Japan’s overseas tech deal crosses financial wires

Altium

15/02/2024 02:39

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are his own.)
    By Antony Currie
       MELBOURNE, Feb 15 (Reuters Breakingviews) - Electronics
design outfit Altium has a smart product and is growing at a
decent pace. That doesn't justify Renesas paying $6 bln for the
Australian-listed company. Unless the buyer can supercharge
revenue, it's another Japanese outbound deal that will generate
meagre returns.
    Full view will be published shortly.
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    CONTEXT NEWS 
    Renesas Electronics on Feb. 15 said it has agreed to buy
Australian-listed electronics design company Altium for A$9.1
billion ($5.9 billion) in cash. The A$68.50-per-share offer is a
34% premium to the target's closing price on Feb. 14. 

 (Editing by Una Galani and Katrina Hamlin)
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