Renesas Electronics Corporation entered into a definitive agreement to acquire Panthronics AG from the shareholders for approximately ¥12.6 billion.

Renesas Electronics Corporation (TSE:6723) entered into a definitive agreement to acquire Panthronics AG from the shareholders for approximately ¥12.6 billion on March 21, 2023. Renesas will acquire Panthronics in an all-cash transaction. The acquisition has been unanimously approved by the board of directors of Renesas.

The closing of the deal is subject to required regulatory approval and customary closing conditions. The acquisition is expected to close by the end of the December 2023. As on June 1, 2023, The transaction was approved by regulatory.