Infineon to buy International Rectifier in a $3 billion deal

Infineon will acquire International Rectifier for USD 40 per share in an all-cash transaction valued at approximately a USD 3 billion. The acquisition combines two top semiconductor companies in power management technology. By the integration of International Rectifier, Infineon complements its offerings and will be able to provide customers with a broader range of innovative products and services. Infineon will also benefit significantly from greater economies of scale as well as a larger regional footprint. Dr. Reinhard Ploss, CEO of Infineon Technologies AG, says: “The acquisition of International Rectifier is a unique opportunity. With their great knowledge of specific customer needs and their application understanding, International Rectifier employees will contribute to Infineon’s strategic development from product thinking to system understanding and system solutions. The combination of Infineon’s and International Rectifier’s products, technological and innovative excellence, as well as distributional strength will unleash great potential.” Oleg Khaykin, President and CEO of International Rectifier, says: “This transaction provides significant value to our stockholders and opens new strategic opportunities for both our customers and employees. By combining two complementary providers in power management solutions, International Rectifier will benefit from Infineon’s products and technologies, manufacturing and operational excellence and greater R&D scale.” With International Rectifier, Infineon acquires a manufacturer in Gallium Nitride on Silicon (GaN) based power semiconductors. This combination will accelerate 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.