NEC Electronics, Renesas to integrate operations April 2010
NEC Electronics and Renesas Technology have entered into a merger agreement to integrate business operations on April 1 2010.
The announcement follows the two companies' definitive agreement in September, with the integrated company being renamed Renesas Electronics Corporation.
The integration will become effective following the adoption of resolutions by shareholders from both organizations and approval by relevant authorities. Once complete, the merger will strengthen NEC and Renesas' position in the semiconductor market, with the focus on three major product groups – mcus, SoCs and discrete products.
While both companies will integrate operations, it was announced that there would be 'structural reform plans' in order to strengthen business frameworks.
