Covington Advises Renesas on a $9.1b Acquisition of Altium Limited

Covington Advises Renesas on a $9.1b Acquisition of Altium Limited

February 15, 2024

WASHINGTON—Covington advised Japan's Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, in connection with its agreement to acquire Altium Limited, a global leader in electronics design systems, for a total equity value of approximately A$9.1 billion.

The acquisition brings together Altium’s sophisticated cloud platform capabilities with Renesas’ strong portfolio of embedded solutions, combining high-performance processors, analog, power and connectivity. The transaction strongly aligns with Renesas’ digitalization strategy and represents the company’s first significant step in bringing enhanced user experience and innovation at the system level for electronics system designers.

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