TOKYO – Renesas announced the successful completion of its $5.9 billion acquisition of Altium, which was first announced in February.

The combination sets the foundation for Renesas and Altium to create an innovative electronics system design and lifecycle management platform, Renesas said in a release. The platform will deliver integration and standardization of various electronic design data and functions and enhanced component lifecycle management, while enabling seamless digital iteration of design processes to increase overall productivity.

"This is a historical milestone for both Renesas and Altium as we take another important step forward in bringing enhanced user experience for electronics system designers," said Hidetoshi Shibata, CEO of Renesas. "The integrated and open electronics system design and lifecycle management platform we aim to build together will make electronics accessible to broader market, for any enterprises regardless of their size or industry. I want to reaffirm that our commitment to upholding data security and compliance of the Altium customers will continue to be our top priority. With the addition of Altium’s design software and cloud platform capabilities, we are excited to change the future of electronics system design with Aram and his industry-leading, talented software engineering team."

With the transaction now closed, Altium is now a wholly owned subsidiary of Renesas. Altium CEO Aram Mirkazemi has assumed the role of senior vice president and head of Renesas’ Software & Digitalization. He concurrently serves as CEO of Altium.

"This is a pivotal moment for Altium and marks the beginning of an exciting future with Renesas,” Mirkazemi said. “With Renesas’ support and expertise, we are looking forward to accelerating the cloud-enablement of all industry processes associated with electronics design and development. This will make electronics accessible to a broader market and lay the foundation for software defined products."