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Defense Speak Interpreted: SWaPing Nanosatellites for Defense SystemsRenesas Announces Execution of Facilities Agreement for Altium Acquisition
May 30, 2024 | RenesasEstimated reading time: Less than a minute
As announced in a previous press release, Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, reached an agreement with Altium Limited, a global leader in electronics design systems, in which Renesas will acquire all outstanding shares of Altium, making Altium a wholly-owned subsidiary of Renesas, subject to the satisfaction of certain conditions.
To provide a portion of the funds for the Acquisition, Renesas entered into a loan agreement with a borrowing limit of 1 trillion yen.
While the influence of the transaction on Renesas business performance has not yet been determined at present, Renesas will make an announcement in a timely manner once any material impact is made to its business performance.
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