Renesas acquires IDT for US$49.00 per share in an all-cash transaction representing an equity value of approximately US$6.7 billion (EV $7.2bn).

Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, and Integrated Device Technology, Inc., a leading supplier of analog mixed-signal products including sensors, connectivity and wireless power, announced they have signed a definitive agreement under which Renesas will acquire IDT for US$49.00 per share in an all-cash transaction representing an equity value of approximately US$6.7 billion. The acquisition combines two recognized leaders in embedded processors and analog mixed-signal semiconductors, each with unique strengths in delivering products to improve performance and efficiency in high-computing electronic systems. The boards of directors of both companies have unanimously approved the transaction. Closing of the transaction is expected to occur in the first half of 2019, following approvals by IDT shareholders and the relevant regulatory authorities.