Renesas to Acquire Altium in a Groundbreaking Electronics Industry Merger

Renesas Electronics Corporation and Altium Limited have announced a landmark agreement for Renesas to acquire Altium in a significant move for the electronics industry. The acquisition, valued at approximately A$9.1 billion, marks a strategic partnership between two industry leaders.

The deal, subject to various conditions, will see Renesas purchasing all outstanding shares of Altium for A$68.50 per share. This acquisition is a key step for Renesas in enhancing its digitalization strategy and expanding its offerings in the electronics system design space.

Altium is known for its cutting-edge software tools that facilitate PCB design. By integrating Altium’s capabilities with Renesas’ product portfolio, the acquisition aims to create a comprehensive electronics system design and lifecycle management platform that caters to businesses of all sizes and industries.

CEO of Renesas, Hidetoshi Shibata, emphasized the significance of this acquisition: “Addition of Altium will enable us to deliver an integrated and open development platform, making it easier for businesses to build and scale their systems. This aligns with our goal of driving innovation and accessibility in electronics design.”

Altium’s CEO, Aram Mirkazemi, expressed enthusiasm about the merger, stating, “Renesas’ visionary leadership and commitment to accessibility in electronics resonate strongly with Altium. We are excited to join forces and continue our growth together.”

In addition to the Altium acquisition, Renesas recently agreed to acquire GaN IC specialist Transphorm for $339 million, showcasing its strategic growth initiatives in the semiconductor industry.

The boards of both Renesas and Altium have approved the deal, which is expected to close in the second half of 2024 pending regulatory approvals. The transaction signifies a significant milestone in the evolution of the electronics design landscape, with both companies poised to drive innovation and collaboration in the sector.

Key advisors for the acquisition include Deutsche Bank and J.P. Morgan Securities LLC as financial advisors, along with legal counsel from various firms such as DLA Piper LLP, King & Wood Mallesons, and Reed Smith LLP.