Expertise boost: Renesas CEO Bunsei Kure at a press conference in Tokyo. The deal allows Renesasto bring on board IDT’s know-how in chips for wireless networks and data storage which are crucial for self-driving cars. — Reuters
TOKYO: Japanese chipmaker Renesas Electronics Corp said it had agreed to buy US peer Integrated Device Technology (IDT) Inc for about US$6.7bil, aiming to boost its expertise in self-driving car technologies.
The deal allows Renesas, second only to NXP Semiconductors NV in chips used in cars, to bring on board IDT’s know-how in chips for wireless networks and data storage which are crucial for self-driving cars.
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