© Infineon Business | April 17, 2020
Infineon completes acquisition of Cypress
Infineon has completed its previously announced acquisition of Cypress Semiconductor Corporation. The San Jose-based company has become part of Infineon effective as of the completion.
“The acquisition of Cypress is a landmark step in Infineon’s strategic development,” says Infineon CEO Reinhard Ploss, in a press release. “Together, we offer our customers the industry’s most comprehensive portfolio for linking the real with the digital world and shaping digitalization, one of the most important global trends. We serve as a trusted partner for customers and distributors and we are evolving from a leader in components to a leader in system solutions for the automotive, industrial and IoT markets. Furthermore, customers can benefit from our increased global reach and enhanced design-in support tailored to their needs. We welcome our new colleagues from Cypress to Infineon”. The addition of Cypress lets Infineon further strengthen its focus on structural growth drivers and on a broader range of applications. This aims to accelerate the company’s path of profitable growth. Cypress adds a differentiated portfolio of microcontrollers, connectivity components, software ecosystems and high-performance memories. All this is complementary to Infineon’s leading power semiconductors, automotive microcontrollers, sensors and security solutions. Combining these technology assets enables advanced solutions for high-growth applications such as ADAS/AD, IoT and 5G mobile infrastructure. The addition of Cypress’ strong R&D capabilities and its foothold in the U.S. and Japan strengthen Infineon’s connections with customers around the world. Back in 3 June 2019 when the acquisition was first introduced, Infineon and Cypress announced that the companies had signed a definitive agreement under which Infineon would acquire Cypress for USD 23.85 per share in cash, corresponding to an enterprise value of EUR 9.0 billion. The acquisition is expected to be accretive to earnings in the 2021 fiscal year.
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