Sunday, April 20, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Ex-Apple CEO To Sell Mobiles In India
HTC Hired Ex-Samsung Marketing Officer
Xbox One Wolrdwide Sales Cross 5 million
Samsung Works With GLOBALFOUNDRIES On 14 nm FinFET Offering
Facebook To Find Nearby Friends
Console Sales Lift AMD's First Quarter Results
LG Expands 'Second Screen' TV Ecosystem With Open-Source SDK
Amazon Announces Kindle Service For Samsung Devices
Active Discussions
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
IBM supercharges Power servers with graphics chips
Werner Vogels: four cloud computing trends for 2014
Video editing software.
 Home > News > General Computing > NEC and...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, September 16, 2009
NEC and Renesas Reach a Definitive Agreement on Business Integration


NEC Electronics, Renesas Technology Corp., NEC Corporation , Hitachi, Ltd., and Mitsubishi Electric Corporation today announced that they have signed a definitive agreement to integrate business operations at NEC Electronics and Renesas.

The Business Integration will become effective following the adoption of the resolutions at the Extraordinary General Meeting of Shareholders of NEC Electronics and Renesas and approval by authorities concerned.

As a condition to the Business Integration, Renesas will issue shares of Renesas common stock to Hitachi and Mitsubishi Electric, the sole shareholders of Renesas, in exchange for a total of 78 billion yen before the effective date of the Business Integration. In addition, on the effective date of the Business Integration (scheduled to be April 1, 2010), the integrated company after the Business Integration will issue shares of its common stock to NEC, Hitachi, and Mitsubishi Electric in exchange for a total of approximately 122 billion yen.

Both 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, NEC Electronics and Renesas have been exploring the possibility of the Business Integration after signing a basic agreement on April 27, 2009.

The Integrated Company (Renesas Electronics Corporation) 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.

In order to address the ongoing challenges of the current economic downturn, NEC Electronics and Renesas will each continue to execute structural reform plans in order to strengthen their business frameworks.


Previous
Next
Sharp to Incorporate UV2A Technology into Production of LCD Panels        All News        Adobe to Buy Omniture
IBM Announces Highest Performance Embedded Processor for System-on-Chip Designs     General Computing News      Adobe to Buy Omniture

Get RSS feed Easy Print E-Mail this Message

Related News
Apple May Buy Stake in Renesas Chip Design Unit: report
Microsoft Reveals Kinect for Windows v2
Renesas Develops First 28nm Embedded Flash Memory Technology for Microcontrollers
Sony Buys Semiconductor Manufacturing Facility From Renesas Electronics
Sony Eyes Renesas Chip Fab: report
Renesas 1.5 billion Bailout Includes Government, Customer Funds
Kinect for Windows SDK 1.8 Available
Broadcom To Buy Renesas LTE-Related Assets For $164 Million
NEC Display Introduces 19-inch AccuSync Desktop Monitor with IPS Panel
NEC To Stop Making Smartphones
Researchers Use Kinect As Digital Assistance To Sign-Language Users
NEC to Exit Smartphone biz: report

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .