Renesas to Sell Display Chip Business to Synaptics, Not Apple?

Renesas Electronics Corp is planning to sell a majority stake in its Renesas SP Drivers business to Synaptics, not Apple, reports Reuters.

Renesas SP Drivers is a joint venture established by Renesas Electronics, Sharp Corporation and Powerchip Group in April 2008. It engages in the business of LCD Drivers that drive small and mid-sized LCD panels.


Apple had been in talks to acquire Renesas' entire 55% stake for an estimated 50 billion yen ($479 million). Most of the unit's 240 or so employees in Japan were expected to stay on after the transfer which was to be completed by this summer; however, sources now tell Reuters that those talks failed to make progress and Renesas has narrowed its consideration to Synaptics.

Sharp owns 25% of Renesas SP Drivers and is also expected to sell its share once Renesas reaches an agreement. The remaining 20% is owned by Taiwan's Powerchip.

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