CG Power & Industrial Solutions announced that the Company has entered into a definitive agreement for the acquisition of the Radio Frequency (RF) components business of Renesas Electronics Corporation (Renesas), a premier supplier of advanced semiconductor solutions. Towards this, an asset purchase agreement for the business was executed on 4 October 2024 between the company and Renesas Electronics America Inc., a subsidiary of Renesas, and other affiliated entities of Renesas, that have assets in the RF components business. The said business will be acquired by entities that will be established by CG, post completion of customary conditions and applicable regulatory approvals.
Through this transaction, CG will acquire Intellectual Property (IP), tangible assets and select transferring employees across various functions such as semiconductor design, marketing, applications, etc. related to the RF components business. |