Renesas joins Intel, other chipmakers with big bet on design software

TOKYO -- Japanese chipmaker Renesas Electronics has made a major move to boost its competitiveness among chipmakers, acquiring design software provider Altium as industry rivals shift from an emphasis on product lineups to software-based design services.

"While we have made a number of cross-border acquisitions over the past few years, this one is of a very different nature," said Renesas CEO Hidetoshi Shibata during an online news conference Thursday, announcing the acquisition of the American-Australian company. "It is an important first step into our long-term future."