But who is doing the acquiring? and of what?
Do you mean that ST would try and sell the "Moore's Law" half of its business to a wannabe chip company that might take it as a way of bulking up?
Such a belated down-sizing would bring ST more in line with NXP and Infineon (More-than-Moore) which have already gone through this process.
@Peter: "But how does lumping the VLSI-related products together and exposing their finances help?"
The benefit is indirect. The market increasingly demands transparency. If I'm an ST investor, *I* certainly want that sort of breakdown. And if I'm ST senior management, that should be the way I'm looking at the numbers. I need to know where I'm doing well and where I'm lagging to make sensible decisions about what I ought to be doing.
It positions ST for future developments. I don't expect them to try to dispose of all of the Moore's Law related businesses in a lump. Who would buy them? I can see future investments, acquisitions, or divestitures in that segment, based on updated appreciations of the state of the market. Breaking out the financials provides clear grounding for decisions that might be made, because they'll be based on those numbers.