Subject:::Renesas Secures Funds from a Government Led Bailout - TMCnet's Government eNews Government Technology
If you have trouble viewing this email, click here to view online.

  Featured Articles

  Sponsored By: Alcatel Lucent

We live in a fast moving world, where public safety agencies must address new threats and challenges - a world where it's no longer enough for first responders to rely on a push-to-talk (PTT) network. Public Safety LTE a How-to Guide - FirstNet Edition, produced by Alcatel-Lucent, takes a look at new capabilities for public safety, what LTE is, what it does and how state and local governments can prepare for the FirstNet LTE network.

Download your copy today!

  Top Stories

  From The Expert Corner

December 10, 2012

Renesas Secures Funds from a Government Led Bailout

By Tabitha Naylor, Contributing Writer

Earlier today, hit by slumping orders and competition from rivals like Samsung (News - Alert) Electronics Co Ltd, Renesas Electronics Corp, Japanese chipmaker, secured a 150 billion yen ($1.8 billion) lifeline from a government-led bailout. In exchange for a two-thirds stake in the world's biggest maker of microcontroller chips for cars, Renesas, the taxpayer-funded Innovation Network Corp of Japan (INCJ), will provide 138.4 billion yen.

Approximately 12 billion yen will be provided by eight key manufacturing clients including Toyota Motor Corp, Nissan Motor Co, Canon Inc. and Panasonic Corp. Sources familiar with the talks have told Reuters (News - Alert) that, to counter an earlier bid by U.S. private equity firm KKR & Co LP, the bailout was put together amid worries that the firm's technology could fall into foreign hands.

Earlier this year, seeing that fellow chipmaker, Elpida Memory Inc. was driven into bankruptcy, and thus to avoid the fate, Renesas, said that it would spend 60 billion yen on research and development and capital spending related to its core microcontroller business. The company said it was also requesting another 50 billion yen in support from the government fund... Read More

   Featured Videos

   Featured Resources

  TMCnet's Blogs

  Featured Channels

  Advertise With Us

  General advertising Info: Click here   

  Become a TMCnet columnist!

Become a TMCnet columnist! Want to contribute your expertise to a growing audience of technology professionals? Become a writer, blogger or columnist for the TMCnet Web site and this newsletter. Contact TMCnet Group Editorial Director, Erik Linask, at for details.

This email was distributed by: Technology Marketing Corporation, 800 Connecticut Avenue, Norwalk, CT 06854 As a valued reader or attendee of TMC's publications and events, you will occasionally receive carefully-screened offers and free product information via email. If you no longer wish to receive this type of email, please go to[[email]] to adjust your preferences.