Renesas to Acquire IDT for $6.7 Billion

Renesas Electronics Corporation signed a definitive agreement to acquire Integrated Device Technology, Inc. (IDT) for US$49.00 per share in an all-cash transaction valued at approximately US$6.7 billion. The boards of both companies have unanimously approved the transaction.

“On September 10, 2018, IDT, a leading supplier of high-performance system-level analog/mixed-signal semiconductors, and Renesas Electronics Corporation (“Renesas”, TSE: 6723), a premier supplier of advanced semiconductor solutions, announced that they have signed a definitive agreement under which Renesas will acquire IDT for US$49.00 per share in an all-cash transaction representing an equity value of approximately US$6.7 billion (approximately 733.0 billion yen at an exchange rate of 110 yen to the dollar).”

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