By Colin Kellaher


Transphorm shares jumped 30% in premarket trading Thursday after the maker of gallium-nitride semiconductors agreed to be acquired by Japanese chip maker Renesas Electronics for around $339 million.

Under the agreement, Transphorm shareholders will receive $5.10 a share in cash, a roughly 35% premium to Wednesday's closing price of $3.79 for the Goleta, Calif., company.

The deal is slated to close in the second half of the year.

Transphorm shares were recently up 30% to $4.93 in premarket trading.


Write to Colin Kellaher at colin.kellaher@wsj.com


(END) Dow Jones Newswires

01-11-24 0609ET