Renesas Electronics Corporation , a producer of innovative semiconductor solutions, and Altium Limited (“Altium”), a global leader in electronics design systems, said they had completed their purchase.
Renesas and Altium will be able to build an inventive electronics system design and lifecycle management platform thanks to this partnership.
The platform would facilitate smooth digital iteration of design processes to boost overall productivity, as well as the integration and standardisation of disparate electronic design data and functionalities and improved component lifecycle management. As a result, innovation happens much more quickly and system designers have easier access to the market due to a decrease in inefficiencies and development resources.
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Renesas acquired Altium through an Australian law-mandated Scheme of Arrangement (the “Scheme”). Renesas Electronics NSW Pty Ltd, an indirect wholly owned subsidiary of Renesas, purchased all of the outstanding shares of Altium under the terms of the Scheme for A$68.50 in cash per share, for a total equity value of roughly A$9.1 billion (or 887.9 billion yen, assuming a 97 yen exchange rate to the Australian dollar).
“This is a historical milestone for both Renesas and Altium as we take another important step forward in bringing enhanced user experience for electronics system designers,”said Hidetoshi Shibata, CEO of Renesas. “The integrated and open electronics system design and lifecycle management platform we aim to build together will make electronics accessible to broader market, for any enterprises regardless of their size or industry. I want to reaffirm that our commitment to upholding data security and compliance of the Altium customers will continue to be our top priority. With the addition of Altium’s design software and cloud platform capabilities, we are excited to change the future of electronics system design with Aram and his industry-leading, talented software engineering team”
Renesas used bank loans to finance the purchase. The ordinary shares of Altium were placed on hold as part of the Scheme’s implementation on July 19, 2024, at the close of trading. On August 2, 2024, at the close of trading, Altium will be taken off the Australian Securities Exchange’s Official List.
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“This is a pivotal moment for Altium and marks the beginning of an exciting future with Renesas,” said Aram Mirkazemi, CEO of Altium. “With Renesas’ support and expertise, we are looking forward to accelerating the cloud-enablement of all industry processes associated with electronics design and development. This will make electronics accessible to a broader market and lay the foundation for software defined products.”
About Renesas
Renesas Electronics Corporation, headquartered in Tokyo, Japan, was founded in 2002 as Renesas Technology, the consolidated entity of Hitachi and Mitsubishi’s semiconductor units excluding their dynamic random-access memory (DRAM) businesses, which NEC Electronics merged in 2010, changing the corporate name and logo.
About Altium
Altium LLC, a San Diego-based software firm, accelerates invention through electronics. PCB designers and engineers from startups to multinationals use Altium software to create electrical product
