CG Power and Industrial Solutions Limited (CG), a company in the electrical engineering sector and part of the Murugappa Group, has announced its acquisition of the Radio Frequency (RF) components business from Renesas Electronics Corporation, a supplier of semiconductor solutions.
An asset purchase agreement was signed on October 4, 2024, between CG Power and Industrial Solutions Limited and Renesas Electronics America Inc., a subsidiary of Renesas, along with other affiliated entities holding assets in the RF components business. The acquisition will be completed following customary conditions and regulatory approvals, and the business will be transferred to entities to be established by CG.
The acquisition includes Intellectual Property (IP), tangible assets, and select employees across semiconductor design, marketing, and applications related to the RF components business.
Vellayan Subbiah, Chairman of CG Power and Industrial Solutions Limited, stated, "This acquisition aims to strengthen India's role in the semiconductor design and development sector, a growing industry with significant potential."
Davin Lee, Senior Vice President and General Manager of the Analog and Connectivity Group at Renesas, said, "This agreement allows our RF team to expand, and CG will provide support to ensure a smooth transition. The move will enable Renesas to focus on its strategic segment within the analog and connectivity business to better meet customer demands."