$9.1 billion! Jussas buys half of semiconductor software companies

In the first quarter of the 2024 period alone, Jussas snapped up both semiconductor makers! After buying Transphorm, a supplier of Gan, in January, Jussas paid a $9.1 bn in February for Altium, a PCB software company.

On February 15th Renesas, a Japanese chipmaker, announced that it had agreed to pay a $9.1 billion to Altium, a leading maker of software for electronic design systems for printed circuit boards (PCB) , it is the largest takeover of an australian-listed company by a Japanese buyer to date.

In a statement, Renesas said it would pay a $68.50 a share in cash for all outstanding shares in Altium. The deal, which has been unanimously approved by both boards, is expected to close in the second half of the 2024 year. Altium, a wholly owned subsidiary of Renesas Electronics, will continue to be led by Chief Executive Officer Aram Mirkazemi. Renesas said the deal still needed to be approved by Altium shareholders and an Australian court.

Founded in 1985, Altium is the world's first supplier of PCB design tools. Altium, based in San Diego, California, is listed in Australia. Revenue for the year ended June 302023 $263 million. Autodesk, a US company, announced plans to buy Altium for a $5.25 bn in the 2021, foreign media reported. But Altium rejected the offer as too low.

Renesas has been working with Altium, which has added Altium 365, the world's first digital platform for the design and implementation of electronic hardware, to its PCB design software, allowing for seamless collaboration throughout the PCB design process. In June, 2023 announced that it had standardized all PCB designs on Altium's Altium 365 cloud platform. Publish the ECAD library for all of its products to Altium Public Vault. With Altium 365's manufacturer parts search and other features, customers can select Renesas electronic parts directly from the Altium library to speed up the listing. The acquisition combines Altium's advanced cloud platform capabilities with Renesas Electronics' powerful embedded solutions, combining high-performance processors, simulations, power supplies and connectivity. The merger will also integrate with third-party vendors throughout the ecosystem to seamlessly perform all electronic design steps in the cloud.

It is also Jussas's second recent acquisition, following its $339M takeover of gan supplier Transphorm in January, which is also expected to be completed in the second half of the 2024 year. In fiscal 2023, revenue was 1469.4 billion yen, or about $9.8 billion, and operating profit was 390.8 billion yen, or about $2.6 billion, according to Renesas' latest results.

Jussas said 2024 AI-related demand was strong, auto demand was stable and the PC market had reached a cyclical bottom, but industrial inventory adjustments would continue into the second half of the year.

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