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Renesas Electronics Corp to Sell Sub-subsidiaries and LTE Asset to Broadcom Corporation

Wednesday, 4 Sep 2013 07:00am EDT 

Renesas Electronics Corp announced that its subsidiary, Renesas Mobile Corporation, has decided to sell a 100% stake in a subsidiary (Subsidiary A), which is engaged in research and development of communication modem for mobile phones in Finland, as well as 100% stake in a subsidiary of Subsidiary A, which is engaged in the same business in India, to Broadcom Corporation, on October 1, 2013. The Company will also sell asset related to LTE (Long Term Evolution) modem technology to Broadcom Corporation. 

Company Quote

0.23 +0.59%
29 Aug 2014