Electronic Design

Agreement Merges NEC And Renesas Business Ops

Kawasaki, Japan: NEC Electronics, Renesas Technology, NEC, Hitachi, and Mitsubishi Electric Corporation have signed a definitive agreement to integrate business operations at NEC Electronics and Renesas.

As a condition to the business integration, Renesas will issue shares of Renesas common stock to Hitachi and Mitsubishi Electric, the sole shareholders of Renesas, in exchange for a total of 78 billion yen before the effective date of the merger. The new company plans to provide products in three different product groups—MCUs, SoCs, and discrete products.

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