Global electronic component and service provider Yageo Corporation announced on Oct 27 that it has entered into a binding commitment with Schneider Electric, the leader in the digital transformation of energy management and automation, to acquire its Telemecanique Sensors business in an all-cash transaction. The proposed transaction values ​​Telemecanique Sensors’ business at an enterprise value of EUR 723 million (US$729 million) with an estimated equity value of approximately EUR 686 million (US$692 million) assuming customary adjustments at closing and will be financed entirely through existing cash.

Franco-Italian chipmaker STMicroelectronics reported a Q3 net revenues of US$4.32 billion, a sequential increase of 12.6%, and a year-on-year increase of 35.2%. ST also reported its Q3 gross margin at 47.6%, up 41.6% YoY, operating margin at 29.4%, up 18.9% YoY, and net income at US$1.10 billion, doubling from Q4 2021’s US$474 million.

Taiwan-based RichWave Technology, which specializes in Wi-Fi FEM (front-end module) solutions, expects a substantial pick-up in customer orders as early as the first half of 2023.

Reuters reported exclusively on Oct 26 that the US Department of Justice has probed into a series of car crashes involving Tesla’s self-driving system. The marketing hype over self-driving technology has not died down; however, many suppliers and AI companies have recently voiced different opinions on the future of autonomous cars.