If This, Then That

• If Renesas had not overpaid for IDT in 2019, they would not be trying to unwind parts of it now.

• If the IDT business had been fully integrated into Renesas’s core automotive and industrial roadmap, the timing unit likely would not be for sale.

• If Renesas had not tied up more than $2B in the Wolfspeed deposit and taken a major write off, there would be far less pressure to raise cash.

• If Renesas had not shifted toward software with the Altium deal, timing would still be considered a core long term asset.

If those four things had gone differently, this sale probably would not be happening and billions in value would not have been lost.

Title: Renesas Completes Acquisition of Integrated Device Technology
Source: Renesas press release (official)
URL: https://www.renesas.com/en/about/press-room/renesas-completes-acquisition-integrated-device-technology-0

Title: Japan’s Renesas to buy U.S. chipmaker IDT for $6.7 billion
Source: Reuters (2018)
URL: https://www.reuters.com/article/business/japans-renesas-to-buy-us-chipmaker-idt-for-67-billion-idUSKCN1LR02U/

Title: Renesas’s $6.7 Billion Acquisition of IDT (with overpayment analysis)
Source: Mergersight article
URL: https://www.mergersight.com/post/renesas-acquisition-idt

These provide context on why some analysts viewed the acquisition as pricey or risky at the time.

Title: Renesas acquisition of IDT gets the all clear
Source: ElectronicSpecifier (analysis)
URL: https://www.electronicspecifier.com/news/analysis/renesas-acquisition-of-idt-gets-the-all-clear

Title: IDT Deal Fuels Renesas Growth Ambitions
Source: EE Times (2018)
URL: https://www.eetimes.com/idt-deal-fuels-renesas-growth-ambitions/

These explain the deposit Renesas put down and the expected loss from Wolfspeed’s restructuring:

Title: Renesas Announces Expected Loss Resulting from Signing Restructuring Support Agreement with Wolfspeed
Source: Renesas newsroom
URL: https://www.renesas.com/en/about/newsroom/renesas-announces-expected-loss-resulting-signing-restructuring-support-agreement-wolfspeed

Title: Renesas expects significant loss following Wolfspeed restructuring deal
Source: Evertiq
URL: https://evertiq.com/design/2025-06-25-renesas-expects-significant-loss-following-wolfspeed-restructuring-deal

Title: Wolfspeed Announces CFIUS Clearance and Completion of Equity Issuance to Renesas
Source: Wolfspeed official site
URL: https://www.wolfspeed.com/company/news-events/news/wolfspeed-announces-cfius-clearance-and-completion-of-equity-issuance-to-renesas-as-part-of-court-approved-restructuring/

These articles outline how Renesas later explored selling the timing division — showing shifting strategy:

Title: Japanese semiconductor company Renesas explores $2 billion sale of timing unit
Source: Reuters
URL: https://www.reuters.com/business/japanese-semiconductor-company-renesas-explores-2-billion-sale-timing-unit-2025-10-14/

Title: Inside Renesas’s $2 Billion Timing Exit: Strategic Focus or the Start of a Supply Chain Shake-Up?
Source: Win-Source blog
URL: https://blog.win-source.net/q-a/inside-renesass-2-billion-timing-exit-strategic-focus-or-the-start-of-a-supply-chain-shake-up/

Title: Renesas Explores $2 Billion Sale of Timing Unit: A Strategic Pivot
Source: MarketMinute (industry newsletter)
URL: https://markets.chroniclejournal.com/chroniclejournal/article/marketminute-2025-10-14-renesas-explores-2-billion-sale-of-timing-unit-a-strategic-pivot-in-the-ai-driven-semiconductor-landscape

This reflects the transition to software and design tools:

Title: Renesas Completes Acquisition of Altium
Source: Altium official newsroom
URL: https://www.altium.com/company/newsroom/press-releases/renesas-completes-acquisition-altium

Title: Japan’s Renesas to buy software firm Altium for $5.9 billion
Source: Reuters
URL: https://www.reuters.com/technology/japanese-chipmaker-renesas-buy-australian-software-firm-altium-59-bln-2024-02-14/