Covington Advises Renesas in $339 Million Acquisition of Transphorm

Covington Advises Renesas in $339 Million Acquisition of Transphorm

January 11, 2024

WASHINGTON—Covington advised Japan's Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, in connection with its $339 million agreement to acquire California-based Transphorm, Inc., a global leader in the manufacture of power semiconductors utilizing gallium nitride (GaN) technology, a key next-generation material.

The acquisition affords Renesas in-house GaN technology capabilities, expanding its reach into fast-growing markets such as EVs, computing (data centers, AI, infrastructure), renewable energy, industrial power conversion, and fast chargers/adapters.

The Covington team that advised Renesas on the transaction was led by Mark Plotkin, Ingrid Price, and Brian Kim.