Japan's Renesas agrees to buy US chipmaker IDT for $6.7b

Japan's Renesas agrees to buy US chipmaker IDT for $6.7b

Photo: Renesas website

Japanese chipmaker Renesas Electronics Corp said on Tuesday it had agreed to buy U.S. peer Integrated Device Technology Inc (IDT) for about $6.7 billion, aiming to boost its expertise in self-driving car technologies.

The deal allows Renesas, second only to NXP Semiconductors NV in chips used in cars, to bring on board IDT’s know-how in chips for wireless networks and data storage which are crucial for self-driving cars.

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