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Renesas Electronics to Acquire Integrated Device Technology (IDTI) for Approx. $6.7B
September 11, 2018 5:51 AM EDTRenesas Electronics Corporation and Integrated Device Technology, Inc. (NASDAQ: IDTI) today 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 (approximately 733.0 billion yen at an exchange rate of 110 yen to the dollar). 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.... More
