CG Power has entered a definitive agreement to acquire Renesas Electronics Corporation’s radio frequency (RF) components business for $36 million, marking its entry into semiconductor design.
The RF components business, part of Japan-based Renesas, generated $56 million in revenue in 2023. Under the agreement, CG Power will acquire intellectual property, equipment, inventories, and select employees, helping to enhance its expertise in RF component design and marketing.
A new subsidiary, CG Semi Pvt Ltd, has been formed to manage the Outsourced Semiconductor Assembly and Test (OSAT) operations.
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