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Renesas Electronics May Buy U.S. Chip Maker
Japan’s Renesas Electronics Corp. is in negotiations to buy California-based chip maker Intersil Corp. for an estimated 300 billion yen ($3 billion), according to media reports.
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Japan’s Renesas Electronics Corp. is in negotiations to buy California-based chip maker Intersil Corp. for an estimated 300 billion yen ($3 billion), according to media reports.
Intersil, which traces its origins to chips used in digital watches, currently makes power control chips used for battery systems, displays and power modules in the automotive and aerospace industries.
The possible acquisition would mark a major turnaround for Renesas, a major supplier of semiconductors and processors for cars and mobile phones. The company nearly collapsed after a major earthquake in 2011 severely damaged its chipmaking operations in Japan and disrupted auto production worldwide.
Renesas restructured in 2012, installed new management and was bailed out by Japan’s government-owned Innovation Network Corp., which currently owns about 69% of the company. Hitachi, Nissan, Mitsubishi Electric and Nissan hold minor stakes.
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