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Business

Murata buying US power chip venture in bid to diversify

Japanese electronics parts maker looks beyond smartphones for growth

The headquarters of Murata Manufacturing in Kyoto.

OSAKA -- Murata Manufacturing plans to purchase American startup Arctic Sand Technologies for about 7 billion yen ($61.8 million) in a step to reduce the Japanese company's dependence on smartphone parts.

The Massachusetts Institute of Technology spinoff was founded in 2011 and is strong in energy-saving and miniaturization technologies for power management chips, used in information technology equipment and automotive electrical modules.

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