In a press statement released last January 11, Japanese semiconductor manufacturer Renesas said it will acquire electronics design firm Altium for $5.9 billion in cash in line with its plans to offer digital device design to customers.

"As long as we remain a traditional device manufacturer, we will only be marginalized," said Renesas CEO Hidetoshi Shibata at a news conference as he explained the need for the company to adapt to new technology and offer new products and services.
According to a report by Reuters, the acquisition places Renesas at the forefront of deal-making and investment in Japan's semiconductor industry, with the Japanese government making efforts to improve competitiveness and boost supply chain resilience against geopolitical shocks.
Meanwhile, Altium CEO Aram Mirkazemi told local media that Renesas acquisition will help his company execute plans at a faster pace.
Headquartered in the United States and listed in Australia, Altium booked sales of $263 million in the year ended June with earnings before interest, tax, depreciation and amortization (EBITDA) margin of 36.5%.
Reuters reported that Renesas offered Altium 68.50 Australian dollar per share (about $48.76) and said it would finance the purchase with cash on hand and bank loans. The same report said the deal was approved by the board of both companies but still required approval from Altium shareholders and an Australian court. Renesas said it expects the deal to close in the second half of 2024.