Hitachi and NEC to sell off Renesas stakes

Update: February 7, 2024 Tags:ecoelelectronichitachiicltmitsubishinec

Hitachi Semiconductor and Mitsubishi Electric were the founding partners in Renesas in 2002 with  NEC Electronics, the semiconductor arm of NEC, joining  Renesas in 2010. 

In 2013, the state-backed fund INCJ took a 69% stake.

Since then, Renesas has been a success with its share price rising 13x and 2022 revenue per employee of  $480,000,

Renesas transformed itself with the acquisitions of Dialog, IDT and Intersil.

Hitachi expects $896 million for its share and NEC expects $1.2 billion.