Japanese chipmaker Renesas to buy Australian software firm Altium for $5.9 bln (updated)

Altium

14/02/2024 22:55

(Adds details, quote from Renesas statement)
       TOKYO, Feb 15 (Reuters) - Japanese chipmaker Renesas
Electronics  6723.T  on Thursday said it will acquire a 100%
stake in Australian design software provider Altium  ALU.AX  for
A$9.1 billion ($5.91 billion) in an all-cash transaction.
    Renesas will pay A$68.50 per share, putting a 34% premium to
Altium's Wednesday closing price, it said in a statement.
    Altium, a printed-circuit board (PCB) design tool provider,
is headquartered in California and listed in Australia.
        Completion of the deal is subject to approval by Altium
shareholders and an Australian court, Renesas said.
  
    "The acquisition enables two industry leaders to join forces
and establish an integrated and open electronics system design
and lifecycle management platform that allows for collaboration
across component, subsystem, and system-level design," said
Renesas.

($1 = 1.5406 Australian dollars)

 (Reporting by Kantaro Komiya; Editing by Chris Reese)
 ((Kantaro.Komiya@thomsonreuters.com; Twitter: @kantarokomiya;))