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Japan’s Renesas Electronics in talks to acquire U.S. semiconductor maker IDT

Kyodo

Japanese chipmaker Renesas Electronics Corp. is in talks to acquire U.S. peer Integrated Device Technology Inc. for around $5.5 billion, sources said Friday.

Through the acquisition, Renesas aims to obtain knowledge and skills for the development of semiconductors necessary for automated driving, as California-based IDT is known for its communications chips.

The Japanese company completed a $3.2 billion buyout of U.S. semiconductor maker Intersil Corp. in 2017.

Renesas was launched in 2010 through the merger of Renesas Technology Corp. — a joint venture set up by Hitachi Ltd. and Mitsubishi Electric Corp. — and NEC Electronics Corp.