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Cree acquires Infineon RF Power Business
Cree, Inc. has acquired assets of Infineon Technologies AG Radio Frequency (RF) Power Business for about EUR 345 million.
With this transaction Cree expands the wireless market opportunity of its Wolfspeed business unit. The transaction has closed and is effective today, a press release reads.
“The acquisition strengthens Wolfspeed’s leadership position in RF GaN-on-SiC technologies and provides access to additional markets, customers and packaging expertise,” said Cree CEO Gregg Lowe. “This is a key element of Cree’s growth strategy and positions Wolfspeed to enable faster 4G networks and the revolutionary transition to 5G.”
The two companies have a long-standing history of collaboration and shared business interests and the acquired Infineon RF Power team and capabilities will complement Wolfspeed’s existing offerings.
“Cree is a strong new owner for this portion of our RF business and has an excellent reputation in the industry,” said Reinhard Ploss, CEO of Infineon. “We are excited about the business rationale and the prospects for the combined businesses. At the same time, we will be able to focus our resources more effectively on Infineon’s strategic growth areas and will retain a strong technology portfolio for the wireless market.”
Included in the transaction is the main facility in Morgan Hill, California, which includes packaging and test operations for LDMOS and GaN-on-SiC. About 260 employees in the US locations, Morgan Hill and Chandler (Arizona), as well as in Finland, Sweden, China and South Korea will now join Cree.
Infineon will also support the transaction with a long-term supply agreement for LDMOS wafers and related components out of its fab in Regensburg, Germany, and will also supply assembly and test services out of its facility in Melaka, Malaysia.
“We are looking forward to combining our strengths with Cree,” said Gerhard Wolf, Vice President and General Manager, RF Power Products at Infineon. “With our highly skilled and dedicated team, advanced technologies and commitment to business excellence, we look forward to serving our customers seamlessly as the 5G mobile standard ramps up.”
