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Chipmaker Renesas goes deeper into autonomous vehicles with $6.7B acquisition

Jon Russell
Chipmaker Renesas goes deeper into autonomous vehicles with $6.7B acquisition

Japan-based semiconductor firm Renesas -- one of the world's largest supplier of chips for the automotive industry -- is scooping up U.S. chip company IDT in a $6.7 billion deal that increases its focus on self-driving technology. Renesas produces microprocessor and circuits that power devices, and automotive is its core focus. The acquisition of IDT -- which is being made a 29.5 percent on its share price -- is set to expand Renesas' expertise on autonomous vehicles.