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| Name | Symbol | Market | Type |
|---|---|---|---|
| Renesas Electronics Corp (PK) | USOTC:RNECY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.269 | -2.83% | 9.251 | 9.12 | 9.39 | 9.55 | 9.18 | 9.55 | 458,848 | 21:00:32 |
From Jul 2019 to Jul 2024
Synaptics Inc. signed a deal to acquire Renesas SP Drivers Inc. for roughly Yen48.5 billion Japanese ($475 million), a move that will expand its capabilities as a touch screen controller supplier to the mobile display market.
Synpatics shares rose 17% to $78 in recent after-hours trading as the company also raised its fiscal fourth-quarter revenue outlook.
The company now expects revenue of $300 million to $310 million, up from its previous projection of $275 million to $295 million. Synpatics expects to provide more details when it reports its fiscal fourth-quarter financial results on July 31.
Renesas SP Drivers is a joint venture established by Renesas Electronics, Sharp Corp. and Powerchip Group in April 2008. Renesas SP Drivers generated revenue of about $650 million for the fiscal year ended in March.
The deal, expected to close in the fourth quarter of 2014, is expected to immediately add to Synaptics's adjusted per-share earnings.
Write to Tess Stynes at tess.stynes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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