Kawasaki and Tokyo, Japan — (METERING.COM) — October 2, 2009 – A definitive agreement to integrate business operations has been signed by NEC Electronics and Renesas.
As leading semiconductor companies, NEC Electronics and Renesas provide a wide variety of semiconductor solutions, primarily specializing in microcontroller units (MCUs). In light of fierce global competition and structural changes triggered by the rapid expansion of emerging markets in the semiconductor market, the two companies have been exploring the possibility of business integration after signing a basic agreement on April 27, 2009, in order to further strengthen their business foundations and technological assets, while increasing corporate value through enhanced customer satisfaction.
The integrated company will provide globally competitive products in its three major product groups, MCUs, SoCs, and discrete products, by concentrating its development resources to further strengthen the companies’ respective advantages. The integrated company aims to expand its business by offering complete solutions that extend the three major groups to best fit the requirement of customers of all kinds of industries.
The two companies will integrate their operations and generate synergies to establish a powerful new semiconductor company that is capable of consistently achieving high earnings in order to withstand changing semiconductor market conditions.
The business integration is scheduled to become effective on April 1, 2010.