M&A

M&A

CG Power to acquire radio frequency components biz of Japan’s Renesas for $36-M

Press Release   Business Line   Renesas Electronics Corporation  

Mumbai-based, publicly listed CG Power and Industrial Solutions , a Murugappa Group firm, has acquired the Radio Frequency (RF) components business of Japan-based Renesas Electronics Corporation for USD 36 million in an all cash deal. CG Power will acquire Intellectual Property (IP), tangible assets and select transferring employees across functions such as semiconductor design, marketing, applications, etc. related to the RF components business of Renesas.The deal was executed via an asset purchase agreement between CG and Renesas Electronics America Inc, a US-based subsidiary of Renesas, and other affiliated entities of Renesas, that have assets in the RF components business.