Renesas Completes Acquisition of Altium, a Prominent PCB Design Software Company

TapTechNews August 2nd news, yesterday, Japanese company Renesas Electronics announced the successful completion of the acquisition of PCB design software company Altium. Since the first announcement on February 15, 2024, this transaction has gone through multiple rounds of review and information disclosure.

Altium, established in 1985, is one of the earliest PCB design tool providers in the world and a partner of giants such as Google, Microsoft, and Amazon, and owns software such as Altium Designer.

With the completion of the transaction, Altium is now a wholly-owned subsidiary of Renesas. Altium's CEO, Aram Mirkazemi, has also become the senior vice president and head of software and digitalization at Renesas.

Renesas Electronics New South Wales Pty Ltd (an indirectly wholly-owned subsidiary of Renesas) acquired all the outstanding shares of Altium at A$68.50 per share in cash, with a total equity value of approximately A$9.1 billion (TapTechNews note: currently about 43.008 billion Chinese yuan).

Altium had previously rejected a $3.9 billion (currently about 28.255 billion Chinese yuan) acquisition offer from software company Autodesk in 2021, citing that the price was too low.