The automotive industry is going through a major shift, as cars are being made with additonal technology, including software for self-driving cars and connected devices. The auto tech sector is highly fragmented, and software makers are getting snatched up, as more companies invest in the sector. Renesas, Samsung and Verizon are some of the buyers in the space.
Renesas Electronics Corp. has been making a push to expand in auto tech. In September, the Tokyo-based company, which makes electronics for power windows and doors, announced plans to buy Intersil Corp. (Nasdaq: ISIL) of Milpitas, California, for $3.2 billion. Intersil makes chips and semiconductors that are used in batteries and on-board cameras for electric and hybrid cars. The target lists Ford Motor Co. (NYSE: F), Toyota Motor Corp. (NYSE: TM) and Nissan as some of its customers.