Renesas completes $5.9bn Altium buy
Renesas Electronics in Japan has completed the acquisition of Australian design tool developer Altium.
The A$9.1 billion (Y887.9bn, US$5.9bn ) deal, first announced in February, will add the Altium electronics system design and lifecycle management expertise to the Renesas development tools. This will integrate and standardise various electronic design data and functions and enhanced component lifecycle management with digital iteration of design processes to increase overall productivity.
This followed a strategic deal with Altium in June 2023 and the rejection of a $4bn takeover bid by Autodesk in 2021.
Renesas to buy PCB design software firm Altium for US$5.9 billion
“This is a historical milestone for both Renesas and Altium as we take another important step forward in bringing enhanced user experience for electronics system designers,” said Hidetoshi Shibata, CEO of Renesas.
“The integrated and open electronics system design and lifecycle management platform we aim to build together will make electronics accessible to broader market, for any enterprises regardless of their size or industry. I want to reaffirm that our commitment to upholding data security and compliance of the Altium customers will continue to be our top priority. With the addition of Altium’s design software and cloud platform capabilities, we are excited to change the future of electronics system design with Aram and his industry-leading, talented software engineering team”
Altium was listed in Australia but headquartered in San Diego, US, and is now a wholly owned subsidiary of Renesas and Altium CEO Aram Mirkazemi has assumed the role of Senior Vice President and Head of Renesas’ Software & Digitalization.
“This is a pivotal moment for Altium and marks the beginning of an exciting future with Renesas,” said Aram Mirkazemi, who also remains as CEO of Altium. “With Renesas’ support and expertise, we are looking forward to accelerating the cloud-enablement of all industry processes associated with electronics design and development. This will make electronics accessible to a broader market and lay the foundation for software defined products.”
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