Renesas CEO Hidetoshi Shibata and Altium CEO Aram Mirkazemi shared the following message with customers and partners today:
Dear valued customer and partner,
In February, we announced that Renesas and Altium have entered into a Scheme Implementation Agreement for Renesas to acquire Altium by way of a Scheme of Arrangement under Australian law.
Renesas and Altium are joining forces to create an open electronics system design and lifecycle management platform. Our shared vision is to make electronics design accessible to all industries of all sizes through this platform.
While the combination of Renesas and Altium adds countless benefits, we recognize that the platform will not be successful if only Renesas enjoys the advantage it brings.
The platform aims to also benefit semiconductor and component suppliers, in addition to distribution, design and all the ecosystem partners. It is therefore our commitment to ensure Altium’s neutral business model and independence by reinforcing the security and privacy of data.
Altium is dedicated to maintaining the highest levels of security, privacy and compliance. Developed with a security-first approach, Altium’s cloud-based Altium 365 platform is protected by comprehensive and layered security measures that permeate every aspect of the platform. This includes reliable data protection features, security monitoring and incident management, certification & third-party testing and vulnerability scanning. The Altium 365 Trust Center connects you to the latest information on the security, reliability, privacy, and compliance of the Altium 365 cloud platform.
Commitment to upholding data security and compliance will continue to be our top priority. To maintain Altium’s open-licensing model and customer neutrality, we are devising specific measures to ensure that Altium customer data remains secure. We can assure you that the integration of Altium’s IT systems and applications into Renesas systems will not alter Altium’s security-first approach to protecting customer data. Access to customer data will continue to be strictly limited to authorized Altium employees. We will commit to your data security in writing, as an amendment to existing contracts, upon request.
The completion of the transaction is subject to regulatory, Australian Court, and shareholder approvals in addition to other customary closing conditions, and is expected to occur in the second half of 2024.
We will keep you informed of future developments, as appropriate. Please feel free to reach out with any additional questions using your existing contacts for support, services and sales.
We are excited about the enhanced capabilities we will bring to all our valued customers, partners and industry participants. Together, we look forward to collaborating with you to pioneer advancements in electronics systems to ultimately make our lives easier.
Sincerely,
Hidetoshi Shibata
CEO
Renesas Electronics Corporation
Aram Mirkazemi
CEO
Altium Limited.