Business Standard

Japan's Renesas Electronics considering buying U.S. chip maker - source


Reuters TOKYO
TOKYO (Reuters) - Japanese automotive chipmaker Renesas Electronics Corp is considering buying U.S. chipmaker Integrated Device Technology Inc, a person familiar with the matter said on Friday.
The potential acquisition, first reported by the Nikkei business daily, comes as Renesas is beefing up its business in chips for self-driving cars.
The Nikkei reported that the deal would be worth as much as $6 billion, becoming one of the largest acquisitions for a Japanese chipmaker.
Renesas declined to provide immediate comment when contacted by Reuters.
(Reporting by Makiko Yamazaki; Editing by Christopher Cushing)

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 31 2018 | 3:26 PM IST

Explore News