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Japanese chipmaker to buy US firm for $6.7B

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Japanese semiconductor firm Renesas announced it would purchase U.S. chip company IDT for $6.7 billion.

Renesas already is one of the world's largest suppliers of chips for the automotive industry, TechCrunch reports.

With the acquisition, Renesas officials hope to increase the company's focus on self-driving technology.

Read more from TechCrunch.

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