Business / Corporate

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.