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Marcy’s Musings: All Things Material Renesas UPDATE: Regarding Acquisition of Stock of Altium Limited
June 28, 2024 | RenesasEstimated reading time: Less than a minute
As announced in the press release “Regarding Acquisition of Stock of Altium Limited” issued on February 15, 2024, Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, entered into a Scheme Implementation Agreement for Renesas to acquire Altium Limited, a global leader in electronics design systems, by way of a Scheme of Arrangement under Australian law, pursuant to which Renesas will acquire all outstanding shares of Altium, making Altium an indirect wholly-owned subsidiary of Renesas, subject to satisfaction of certain conditions.
Upon closing and as a result of the Acquisition, Renesas will also indirectly acquire the following three companies as consolidated subsidiaries (specified subsidiaries) of Altium Limited: Altium IP Hold Co. Pty Limited, Altium IP Co. Pty Limited and Altium LLC. Detailed information of each of these subsidiaries was not available on February 15, 2024. However, Renesas has obtained the information and has therefore announced the updated information of the three companies as follows. The Acquisition is expected to be completed in the second half of 2024 following the approval by Altium shareholders, Australian court, and relevant regulatory authorities, as well as satisfaction of other customary closing conditions.
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