Renesas acquires Altium, merging design software and cloud platform capabilities to enhance system-level integration and lifecycle management, advancing Renesas’ digitalisation strategy.
Today, Renesas Electronics Corporation announced that it has completed the acquisition of Altium Limited, which commenced on February 15, 2024.
By leveraging Altium’s embedded system software, Renesas is poised to establish an ‘innovative electronics system design and lifecycle management platform’. This platform will streamline the ‘integration and standardisation of various electronic design data and functions and enhanced component lifecycle management’, fostering a ‘seamless digital iteration of design processes to boost overall productivity’.
The acquisition promises ‘significantly faster innovation and lowers barriers to entry for system designers by reducing development resources and inefficiencies’. The integrated and open electronics system design and lifecycle management platform aiming to build together will democratize electronics, making them accessible to a broader market for enterprises regardless of size or industry.
With the transaction closed, Altium is now a wholly-owned subsidiary of Renesas. Altium CEO Aram Mirkazemi has assumed the role of Senior Vice President and Head of Renesas’ Software and Digitalization, concurrently serving as CEO of Altium.
Additionally, Renesas’ acquisition of Altium has been completed through a Scheme of Arrangement under Australian law. This means that Renesas, through its subsidiary, has acquired all of the outstanding shares of Altium for A$68.50 in cash per share, for a total equity value of approximately A$9.1 billion. Renesas funded the acquisition through bank loans, a strategic financial move that ensures the stability and growth of our combined entity.
