Micross Acquires High-Reliability DC-DC Converter Business of Infineon Technologies AG
Micross Components has signed a definitive agreement to acquire the High-Reliability DC-DC converter business from Infineon Technologies (OTCQX: IFNNY). The acquisition, set to close in Q1 2023, will enhance Micross' power management solutions and expand its geographical footprint in the U.S. and Europe. This deal marks the eighth acquisition under Behrman Capital's ownership, reinforcing Micross' strategic priorities and positioning in high-reliability markets. The business focuses on proprietary power solutions for demanding environments, aligning with Micross' growth ambitions.
- Acquisition expands Micross' power management offerings.
- Enhances geographic reach in the U.S. and Europe.
- Adds significant proprietary IP to Micross' portfolio.
- Strengthens the strategic fit for high-reliability markets.
- None.
Acquisition Expands Micross' High-Reliability Power Management Solution Capabilities
MELVILLE, N.Y., Jan. 10, 2023 /PRNewswire/ -- Micross Components, Inc. ("Micross" or the "Company"), a leading provider of high-reliability microelectronic product and service solutions for aerospace, defense, space, medical and industrial applications and a portfolio company of Behrman Capital, today announced signing a definitive agreement to purchase the High-Reliability DC-DC converter business (the "Business") of Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY), a global semiconductor leader in power systems and IoT. The deal is expected to close in the first quarter of calendar year 2023.
Headquartered in San Jose, California with a facility in Copenhagen, Denmark, the Business provides high-reliability DC-DC converters, including hybrid and custom board based power products for space, strategic defense, aerospace, and other high-reliability customers. The Business designs and manufactures proprietary power solutions which operate in the harshest environments.
Micross' acquisition – the eighth under Behrman Capital's ownership and fourth since consummating a continuation fund transaction in February of 2022 – continues to build on the strategic priorities for the Company. The addition of Infineon's High-Reliability DC-DC converter business expands Micross' power management solution offerings which are supported by a high degree of intellectual property. The acquisition also expands Micross' geographic footprint in the US and Europe and the Company's presence in the high-growth space end market, better positioning the Company for future growth opportunities.
Vince Buffa, Chairman and CEO of Micross, said, "We are delighted to partner with this experienced team which further expands the Micross team's design capabilities. The acquisition brings significant proprietary IP around power management, combined with state-of-the-art manufacturing capabilities and a product portfolio that is a market leader for the 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."
Simon Lonergan, Managing Partner of Behrman Capital, said, "This acquisition represents an extremely strong strategic fit for Micross, as the Company continues to build out its high-reliability product portfolio to better serve its customer base. Adding Infineon's DC-DC converter Business to Micross' platform further differentiates and adds significant IP to the Company's leading position as a one-stop source of supply for high-reliability electronic products and services. We look forward to continuing to work with management to identify additional opportunities to drive growth at Micross."
Micross 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.
Based in New York City, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company's investments are focused in three industries: defense and aerospace, healthcare services, and specialty manufacturing and distribution. Since its inception, the firm has raised
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
Media Contact:
Chris Stabile, Director of Corporate Marketing Communications
Micross Components
chris.stabile@micross.com
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SOURCE Micross Components
FAQ
What is the purpose of Micross acquiring Infineon Technologies' DC-DC converter business?
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