Japan's Renesas In Talks To Buy Intersil For $3 Bln

(RTTNews) - Japan's Renesas Electronics Corp. is in final stage of talks to acquire U.S. chipmaker Intersil Corp.(ISIL). for about 300 billion yen or $3 billion, Nikkei Asian Review reported. A basic agreement could be reached as early as this month.

Intersil makes chips essential to regulating power in such products as automobiles, industrial machinery and smartphones. It supplies automakers in the U.S., Europe and Asia, and more of its offerings are expected to find their way into electric cars and fuel cell vehicles. Intersil also handles communications chips.