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"The
fragmented (automotive chip) market will be eventually
consolidated into some dominant players" posing a long-term
threat to Renesas, currently the world's No. 3, Renesas chief
executive Bunsei Kure told reporters.
NXP Semiconductors NV, the industry leader, has agreed to be
acquired by Qualcomm Inc in a $47 billion deal to retain its
lead in the fast-growing automotive chips market.
And more recently, Intel Corp agreed to buy Israeli autonomous
vehicle technology firm Mobileye for $15.3 billion.
Kure said Renesas, which bought U.S. chipmaker Intersil Corp for
$3.2 billion this year, is constantly reviewing its list of
potential acquisition targets, comprising around several dozen
names in fields such as sensors and security.
To be ready for major acquisitions, Kure said the company would
probably need to raise capital by issuing shares "at some point"
in the future. "We want to be prepared to move when necessary,"
he said.
According to data research firm IHS, Renesas had an automotive
chip market share of 9.0 percent in 2016, ranking after NXP with
12.6 percent and Infineon Technologies with 9.5 percent.
(Reporting by Makiko Yamazaki and Kentaro Hamada; Editing by
Muralikumar Anantharaman)
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