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09 03 2018 02

TOKYO -- Japanese supplier Denso is buying an additional 4.5 percent stake in chipmaker Renesas Electronics in a deal worth $800 million based on market prices, as automakers accelerate the adoption of self-driving and other technologies.

Denso is an affiliate of and supplier to Toyota Motor. The supplier has been ramping up spending on research and development of new technologies including connected cars. In February, Denso announced an investment in California cybersecurity startup Dellfer.

The company is acquiring the Renesas stake from Innovation Network of Japan (INCJ), a state-backed fund that owns 50.1 percent in the chipmaker, INCJ said in a statement. The terms of the deal were not disclosed, but the transaction is worth about 85 billion yen ($796.9 million) based on Renesas' share price.

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