Renesas will make Dialog a wholly owned subsidiary by the end of 2021 by purchasing some 72 million shares at
The agreement comes as chipmakers are racing to increase output and address a global supply shortage triggered by robust demand for electronic devices as more people work from home amid the coronavirus pandemic.
Dialog "serves fast-growing areas including IoT, industrial and automotive," Renesas President and CEO
"By bringing Dialog's talented team and expertise into Renesas, together, we will accelerate innovation for customers and create sustainable value for our shareholders," Shibata said.
Dialog CEO
The deal reflects the expansion strategy of Renesas, which acquired
==Kyodo
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