TOKYO -- Renesas Electronics' $6.7 billion acquisition of Integrated Device Technology is an expensive but potentially lucrative move to better tap into the burgeoning data economy, the next big arena for chipmakers.
Tokyo-based Renesas is the global leader in automotive microcontrollers -- the semiconductors that control the basic functions of a vehicle -- but this alone will not let it fully capitalize on growing demand for connected cars. Internet-connected autos and other "internet of things" devices collect vast amounts of data that will not only be a gold mine for businesses, but also transform the role of chipmakers.
