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Japanese semiconductor firm Renesas Electronics said Thursday that it would acquire Sydney-listed software company Altium for 9.1 billion Australian dollars ($5.89 billion) in cash, as it seeks to streamline its electronics design process. Renesas said it would pay AU$68.50 per share, representing a 33.6% premium to Altium's closing price of AU$51.26 on Wednesday. Australia-listed shares of Altium jumped nearly 30% to near AU$66, while Tokyo-listed Renesas fell 3.2%. The deal has been unanimously approved by the board of both companies but its completion is subject to approvals from Altium shareholders, Australian court and regulators, Renesas said. The deal comes a month after Renesas agreed to buy Nasdaq-listed Transphorm for $5.10 per share in an all-cash deal worth $339 million.
Persons: Renesas, Altium, Jesper Koll, Koll, Aram Mirkazemi Organizations: Renesas Electronics, Sydney, Monex Group, CNBC, Japan Inc, Nasdaq Locations: Australia, Tokyo, Japan
Gallium is found in trace amounts in zinc ores and in bauxite, and gallium metal is produced when processing bauxite to make aluminium. Transphorm uses ultra thin layers of gallium nitride that are a micron, or one thousandth of a millimetre thick, on its semiconductors. "If you are already banking on gallium nitride and designing it into your platform, then you're in trouble," he said. A source at a Japanese automotive supplier told Reuters the company was weighing up whether to use gallium nitride or silicon carbide for future power semiconductors. "People have to look for other options, but gallium nitride is hard to replace, said the CMI's Neill.
Persons: Umesh Mishra, Mishra, Transphorm, Alastair Neill, Transphorm's Mishra, Neill, Nick Carey, Daniel Leussink, Christina Amann, Zoey Zhang, Matt Scuffham, David Evans Organizations: Alliance, micron, Critical Minerals Institute, Reuters, Infineon, Canada's GaN Systems, Thomson Locations: China, Goleta , California, Tokyo, Berlin, Shanghai
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther dips, and Bitcoin miner Core Scientific files for bankruptcy: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Primit Parikh of Transphorm discusses his company's contributions to the complex crypto mining industry.
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