PARIS — Infineon Technologies will buy California-based International Rectifier for about $3 billion in cash, in a move described as the German company’s biggest acquisition ever.
Through the transaction, the German chip company, best known for its automotive chips, is repositioning itself as a comprehensive provider in the market for silicon-, silicon-carbide-, and gallium-nitride-based power devices and integrated circuits.
The merger will prove particularly effective in the power semiconductor segment, complementing Infineon’s range of high-voltage, high-power semiconductors with International Rectifier’s low-voltage, low-power chips, according to an Infineon spokesman.
For the full story, see EBN sister site EE Times.
— Junko Yoshida is the Chief International Correspondent for EE Times.
— Ismini Scouras contributed to this report.
This is a smart move. infineon has been sitting on a cash pile for a while and keen to spend it. I wonder if there are any other takeovers in the making.
The German company says the merger will “accelerate and solidify” Infineon's position in GaN discretes and GaN system solutions, “improving its ability to pursue this strategically important technology platform with significant future growth potential.
Based on the lengthier article in EE Times, it sounds like Infineon was looking to improve it's position in GaN technology. Perhaps it was a smart move.