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.On 3 June 2019, Infineon and Cypress announced that the companies had signed a definitive agreement under which Infineon would acquire Cypress for US$23.85 per share in cash, corresponding to an enterprise value of €9.0 billion. Ultimately, Infineon plans to cover 30% of the deal’s cost through equity capital. “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. Infineon Technologies AG (IFX.XE) said Monday that it will acquire Cypress Semiconductor Corp. CY for an enterprise value of 9 billion euros ($10.1 billion). All this is highly complementary to Infineon’s leading power semiconductors, automotive microcontrollers, sensors and security solutions. 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. Munich-based Infineon, which in June agreed to buy Silicon Valley-based Cypress Semiconductor for $10 billion, confirmed the deal was on track to … Cypress adds a differentiated portfolio of microcontrollers, connectivity components, software ecosystems and high-performance memories. The San Jose-based company has become part of Infineon effective as of the Closing. “The underlying drivers of our future markets are very much intact and continue to provide good long-term growth prospects to Infineon.” Markets initially reacted negatively to the pricey Cypress deal, which Infineon has partly funded via a $1.7 billion rights issue. "The structural drivers in our future markets are intact and the long-term growth prospects remain good," said Ploss.
“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.
Cypress adds a differentiated portfolio of microcontrollers, connectivity components, software ecosystems and high-performance memories. We expect annual cost synergies of €180 million gradually ramping up over approximately three years after Closing.
The integration of Cypress is a major step for Infineon and a unique opportunity for our customers. Munich, Germany, and San Jose, California - 16 April 2020 - Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) announced today the Closing of the acquisition of Cypress Semiconductor Corporation. The complementary portfolios will enable the offering of additional chip solutions with a revenue synergy potential of more than €1.5 billion per annum in the long term.The acquisition makes Infineon one of the world’s top 10 semiconductor manufacturers. With Cypress, Infineon will be able to gain an even stronger foothold in important future markets and accelerate the pace of growth.” Revenue of 2.015 billion euros was 2% up on the prior quarter, Infineon said, meeting market expectations according to Refinitiv Eikon data. Since that capital raising, however, its shares have rallied by more than 20%. Its product range is a perfect match. The San Jose-based company has become part of Infineon effective as of the Closing.“The acquisition of Cypress is a landmark step in Infineon’s strategic development,” said Infineon CEO Reinhard Ploss. Infineon said it was on track to achieve its full-year goal for revenue growth of 5% or more, with a segment margin - management’s preferred measure of profitability - of 16%. However, as the close of 2019 gets closer, the deal closing date becomes more certain, and shares continue to … Already a leader in power semiconductorRegister your email and we'll keep you informed about our latest articles, publications, webinars and conferences. Unsubscribe anytime.Let us help you understand the future of mobility Operating profit of 283 million euros was down from the prior period, but also in line. The San Jose-based company has become part of Infineon effective as of the Closing. Unsubscribe anytime.Let us help you understand the future of mobility The dividend will not be paid if the closing of the acquisition of Cypress by Infineon Technologies AG (“Infineon”) under the previously announced Agreement and … Ploss is seeking to capitalize on this year’s cyclical weakness in semiconductor demand - centered in China and the auto industry - to bulk up Infineon into the world’s No.8 chipmaker by sales. The transaction has been approved by the Cypress shareholders and all required regulatory clearances have been obtained.The acquisition is expected to be accretive to earnings in the 2021 fiscal year. In the fiscal fourth quarter, revenue is forecast to grow by 1%, with a segment margin of 14.5%.
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