Renesas ready to spend billions to out-grow NXP-Freescale – CFO

Japanese automotive chip maker Renesas Electronics Corp has earmarked billions of dollars for acquisitions to defend an industry lead under threat from merging peers, its financial chief said on Wednesday.

The comment marks a shift in focus for the chipmaker after five years of costly restructuring which culminated in its first net profit since its 2010 inception. It also comes at a time of automakers seeking to add increasingly sophisticated features.

Read the source article at Yahoo Finance

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