CG Power acquires Renesas’ radio frequency components business
CG Power and Industrial Solutions (CG), part of the Murugappa Group, has acquired the radio frequency (RF) components business of Renesas Electronics Corporation for USD 36 million. The asset purchase agreement, signed on October 4, 2024, involves CG acquiring intellectual property (IP), tangible assets, and select employees from Renesas Electronics America and its affiliated entities. This acquisition strengthens India’s presence in the semiconductor design and development sector, a high-growth area.