Infineon to acquire International Rectifier for 3B$ in cash
Infineon Technologies and International Rectifier Corporation has announced that they have signed a definitive agreement under which Infineon will acquire International Rectifier for US-Dollar 40 per share in an all-cash transaction valued at approximately US-Dollar 3 billion.
Infineon's and International Rectifier's product portfolios are highly complementary. International Rectifier's expertise in low-power, energy-efficient IGBTs and Intelligent Power Modules, Power MOSFETs and Digital Power Management ICs will integrate well with Infineon's offering in power devices and modules.
With International Rectifier, Infineon acquires an advanced manufacturer in Gallium Nitride on Silicon (GaN) based power semiconductors. This combination will accelerate and solidify Infineon's position in GaN discretes and GaN system solutions, improving its ability to pursue this strategically important technology platform with significant future growth potential.
The transaction will result in a broad range of products creating a comprehensive provider in the market for silicon-, silicon-carbide- and gallium-nitride-based power devices and integrated circuits (ICs).
The integration of International Rectifier will generate economies of scale through optimization of the combined entity's operating expense structure and through the acceleration of the ramp-up of Infineon's leading 300-millimeter thin wafer manufacturing capability.
Infineon will also have a much broader and stronger regional scope. International Rectifier has a strong presence in the US, the important centre of innovation especially in the Connected World, and will also help to improve Infineon's position in Asia. The increase in exposure to the distribution channel will allow Infineon to meet the needs of a broader range of customers.
