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Infineon Technologies Increases Focus and Investment Into Core Semiconductor Development for High-Reliability Markets; Sells HiRel DC-DC Converter Business to Micross
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Infineon Technologies AG announced a definitive agreement to sell its HiRel DC-DC converter business to Micross Components, Inc. This strategic move aims to focus Infineon on core semiconductor developments for the high-reliability market. The transaction is expected to close in Q1 2023. Bob LeFort, Infineon’s President of Americas, emphasized that this sale benefits all stakeholders and allows for enhanced concentration on high-reliability applications. Micross aims to broaden its design capabilities and deliver innovative high-quality products post-acquisition.
Positive
Strategic sale of HiRel DC-DC converter business allows Infineon to focus on core semiconductor developments.
Transaction expected to close in Q1 2023, potentially enhancing operational efficiencies.
Micross aims to expand design capabilities and product offerings, which could lead to future growth opportunities.
Negative
None.
MUNICH & SAN JOSE, Calif.--(BUSINESS WIRE)--
Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) today announced that Micross Components, Inc. (“Micross”) has entered a definitive agreement to purchase Infineon’s HiRel DC-DC converter business including its hybrid and custom board-based power products. This sale will enable Infineon to extend its focus and investments on core semiconductor developments for the high-reliability market, while deemphasizing businesses that require more customized product offerings for the high-reliability industry. The deal is expected to close in the first quarter of calendar year 2023.
“Infineon is pleased to have reached an agreement with Micross to provide a more strategic home for our HiRel DC-DC converter business,” said Bob LeFort, President of Infineon Technologies Americas. “We believe this sale is in the best interest of both companies; our customers, employees, and shareholders. This transaction enables Infineon to remain focused on the HiRel business areas that benefit from Infineon’s leading semiconductor technologies. We look forward to working with Micross to ensure a seamless transition for our customers and employees.”
Vince Buffa, Chairman and CEO of Micross, said, “We are pleased to have reached an agreement with Infineon on their HiRel DC-DC converter business and to have the opportunity to partner with their highly experienced team which further expands Micross’ design capabilities. We are excited about the significant proprietary power management IP that combined with their state of the art manufacturing capabilities and product portfolio leads the way for advancement of innovative solutions. We will be better positioned to produce an even wider range of high-quality products for our customers. Together, we plan to pursue a number of compelling opportunities to further realize our exciting growth prospects, all while upholding excellent quality and service to our customers.”
The HiRel DC-DC converter business is a leading provider of high reliability DC-DC power conversion solutions for the toughest environments, including outer space, and will operate under the Micross Hi-Rel Products business segment. These DC-DC converter products are complete power solutions, including main power converter, control circuits, filters and housing.
“We are dedicated to our customer and partner base, and will continue to leverage our existing resources and talent to develop innovative solutions together,” said Chris Opoczynski, Sr. Vice President and General Manager, HiRel Business Line, Infineon Technologies. “In our retained HiRel businesses, Infineon will strengthen its focus on these target applications, along with others that demand the highest reliability and highest performance. We are committed to the mission-critical space, defense, and aerospace industries.”
About Infineon
Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 56,200 employees worldwide and generated revenue of about €14.2 billion in the 2022 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).
Micross (https://www.micross.com) is a leading global provider of mission-critical microelectronic components and services for high-reliability markets. Micross provides a wide range of product and service solutions to customers, including Die & Wafer services, Advanced Interconnect Technology, Custom Packaging & Assembly, Component Modification Services, Electrical & Environmental Testing and other high-reliability products and services. In business for more than 40 years, Micross’ extensive high-reliability capabilities serve the Aerospace & Defense, Space, Medical and Industrial markets, among others. Micross possesses the sourcing, packaging, assembly, engineering, test and logistics expertise needed to support applications throughout their entire program life cycles.
For more information about Micross, please visit www.micross.com.
