Chipmaker Renesas to buy software company Altium

Through the deal Renesas intends to speed up the process of electronics design for customers. — Reuters

TOKYO: Japanese chipmaker Renesas Electronics has announced a US$5.9bil all-cash deal to buy electronics design software firm Altium , its second acquisition in a month, as it works to streamline device design.

Renesas said yesterday it will pay A$68.50 a share for Altium in a 34% premium to its Wednesday closing price, with the purchase financed with bank loans and cash on hand.