Renesas announces the signing of a credit agreement for the acquisition of Altium

TOKYO–(BUSINESS WIRE)–#Acquisition–As announced in the press release “Concerns the purchase of shares in Altium Limited” released on February 15, 2024, Renesas Electronics Corporation (“Renesas”, TSE: 6723), a leading provider of advanced semiconductor solutions, has reached an agreement with Altium Limited (“Altium”, ASX: ALU), a global leader in electronic design systems, under which Renesas will acquire all of the outstanding shares of Altium, making Altium a wholly owned subsidiary of Renesas, subject to the satisfaction of certain conditions (the “Acquisition”). To provide a portion of the funds for the Acquisition, Renesas today entered into a loan agreement (the “Credit Agreement”) with a borrowing limit of ¥1 trillion, as described below.

1. Review of the loan agreement (Credit Agreement)

(1) Loan limit: 1 trillion yen

(2) Date of conclusion of the contract: May 30, 2024

(3) Payout Date: From three business days from the effective date of the Takeover

(4) Repayment Deadline: The fifth anniversary of the disbursement date

(5) Main participating financial institutions:

MUFG Bank, Ltd., Mizuho Bank, Ltd. and Sumitomo Mitsui Trust Bank, Ltd.

(Note) The acquisition scheme described in the press release “Concerns the purchase of shares in Altium Limited” will come into force upon approval by Altium shareholders, the relevant regulatory authorities and the Australian courts. Provided that the above requirements are met, the completion of the Acquisition is expected in the second half of 2024.

2. Future expectations

Although the impact of the transaction on Renesas’ business results has not yet been determined, Renesas will make an announcement in due course as soon as there is any material impact on Renesas’ business results.

Additional information

This press release has been prepared for the purpose of announcing to the public certain matters relating to the execution of the agreement to finance the acquisition of Altium and not for the purpose of soliciting investment or engaging in any other similar activities in or outside Japan. Further, this press release does not constitute an offer or sale of securities in the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723) delivers a safer, smarter and more sustainable future where technology makes our lives easier. Renesas, the world’s leading supplier of microcontrollers, combines our expertise in embedded, analog processing, power and connectivity to deliver complete semiconductor solutions. These Winning Combos accelerate time to market in the automotive, industrial, and infrastructure industries IoT applications, enabling billions of connected, smart devices that improve the way people work and live. Find out more at renesas.com. Follow us on LinkedIn, Facebook, TwitterYouTube and Instagram.

(Notes) All product or service names mentioned in this press release are trademarks or registered trademarks of their respective owners.

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