Renesas mulls multibillion-dollar buy of IDT to boost automotive chip business

Japan’s Renesas Electronics Corp. confirmed Friday that it’s considering buying San Jose chipmaker Integrated Device Technology Inc. in a deal that could be worth as much as $6 billion. While Renesas said no final decision has been made, it is reportedly interested in IDT’s expertise in chips for self-driving cars, a promising growth area. Shares of IDT jumped more than 11 percent ahead of the opening bell on Friday morning, valuing the company at more than $5.4 billion. IDT is headquartered on…

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Renesas mulls multibillion-dollar buy of IDT to boost automotive chip business