TOKYO, Japan - As announced in the press release 'Regarding Acquisition of Stock of Altium Limited' issued on February 15, 2024, Renesas Electronics Corporation ('Renesas', TSE: 6723), a premier supplier of advanced semiconductor solutions, entered into a Scheme Implementation Agreement for Renesas to acquire Altium Limited ('Altium', ASX: ALU), a global leader in electronics design systems, by way of a Scheme of Arrangement under Australian law, pursuant to which Renesas will acquire all outstanding shares of Altium, making Altium an indirect wholly-owned subsidiary of Renesas, subject to satisfaction of certain conditions (the 'Acquisition').
Upon closing and as a result of the Acquisition, Renesas will also indirectly acquire the following three companies as consolidated subsidiaries (specified subsidiaries) of Altium Limited: Altium IP Hold Co. Pty Limited, Altium IP Co. Pty Limited and Altium LLC. Detailed information of each of these subsidiaries was not available on February 15, 2024. However, Renesas has obtained the information and has therefore announced the updated information of the three companies as follows. The Acquisition is expected to be completed in the second half of 2024 following the approval by Altium shareholders, Australian court, and relevant regulatory authorities, as well as satisfaction of other customary closing conditions.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. A leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, YouTube, and Instagram.
The statements in this press release with respect to the plans, strategies and financial outlook of Renesas and its consolidated subsidiaries (collectively 'we') are forward-looking statements involving risks and uncertainties. Such forward-looking statements do not represent any guarantee by management of future performance. In many cases, but not all, we use such words as 'aim,' 'anticipate,' 'believe,' 'continue,' 'endeavor,' 'estimate,' 'expect,' 'initiative,' 'intend,' 'may,' 'plan,' 'potential,' 'probability,' 'project,' 'risk,' 'seek,' 'should,' 'strive,' 'target,' 'will' and similar expressions to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These statements discuss future expectations, identify strategies, contain projections of our results of operations or financial condition, or state other forward-looking information based on our current expectations, assumptions, estimates and projections about our business and industry, our future business strategies and the environment in which we will operate in the future. Known and unknown risks, uncertainties and other factors could cause our actual results, performance or achievements to differ materially from those contained or implied in any forward-looking statement, including, but not limited to, general economic conditions in our markets, which are primarily Japan, North America, Asia, and Europe; demand for, and competitive pricing pressure on, products and services in the marketplace; ability to continue to win acceptance of products and services in these highly competitive markets and fluctuations in currency exchange rates, particularly between the yen and the U.S. dollar. Among other factors, downturn of the world economy; deteriorating financial conditions in world markets, or deterioration in domestic and overseas stock markets, may cause actual results to differ from the projected results forecast.
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