Infineon plans to acquire Cypress
The German semiconductor manufacturer Infineon Technologies AG plans to acquire the California-based Cypress Semiconductor Corp. for 23.85 US dollars per Cypress share. This amounts to an enterprise value of 9 billion euros.24 Jun 2019 Barbara Rusch
The acquisition still requires the approval of Cypress shareholders and the relevant regulatory authorities as well as the fulfillment of other customary conditions. Closing is expected in late 2019 or early 2020. According to Infineon’s CEO Reinhard Ploss, the acquisition opens up “growth potential in the automotive, industrial and Internet of Things sectors”.
Cypress’ portfolio of microcontrollers, software and connectivity components should complement Infineon’s power semiconductors, sensors and safety solutions. According to the two companies, the combination enables more comprehensive solutions for high-growth applications such as electric drives, battery-powered devices and power supply, driver assistance systems and new electronics architectures in vehicles, as well as IoT applications in the industrial and consumer segments. With the acquisition of Cypress, Infineon also aims to strengthen and expand its research and development activities in Silicon Valley as well as its presence and position in the North American and Japanese markets.
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