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May 26, 2017

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Infineon set to acquire International Rectifier for US$3.0 billion in cash

FRANKFURT--German semi-conductors giant Infineon said late Wednesday it will acquire its U.S. rival International Rectifier for US$3.0 billion (2.3 billion euro).

"Infineon Technologies and International Rectifier announced that they have signed a definitive agreement under which Infineon will acquire International Rectifier for US$40 per share in an all-cash transaction valued at approximately US$3.0 billion," the German company said in a statement.

"The acquisition combines two semiconductor companies with leadership positions in power management technology," the statement said.

"Infineon will benefit significantly from greater economies of scale as well as a larger regional footprint."

"The combination of Infineon's and International Rectifier's products, technological and innovative excellence, as well as distributional strength will unleash great potential," said Infineon chief executive Reinhard Ploss.

International Rectifier CEO Oleg Khaykin said the deal "provides significant value to our stockholders and opens new strategic opportunities for both our customers and employees. By combining two complementary providers in power management solutions, International Rectifier will benefit from Infineon's products and technologies, manufacturing and operational excellence and greater research and development scale."

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