TOKYO, Japan ― As announced in the press release “Regarding Acquisition of Stock of Integrated Device Technology, Inc.” issued on September 11, 2018, Renesas Electronics Corporation (“Renesas”, TSE: 6723), a premier supplier of advanced semiconductor solutions, announced that it resolved at the Meeting of Board of Directors held on September 11, 2018 to reach an agreement with Integrated Device Technology, Inc (“IDT”, NASDAQ: IDTI), whereby IDT will become a wholly-owned subsidiary of Renesas.
In accordance with the acquisition of IDT, Renesas had stated it would also acquire the following eight companies as consolidated subsidiaries (specified subsidiaries) of Integrated Device Technology, Inc.: IDT Bermuda Ltd., IDT Canada, Inc., IDT Europe GmbH, Integrated Device Technology Malaysia SDN.BHD., IDT Singapore Ptd. Ltd., GigOptix (Israel) Ltd., GigPeak, Inc. and ZMD America LLC. Detailed information of each of these subsidiaries was not available on September 11, 2018. however, Renesas has obtained the information and has therefore announced the updated information of the eight companies as follows. The acquisition is expected to complete within the first half of the fiscal year ending December 31, 2019 following the approval by relevant regulatory authorities of U.S. and other counties and customary closing conditions.
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Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power,and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future.Learn more at renesas.com.Follow us on LinkedIn, Facebook, Twitter, and YouTube.
The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.