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Home > Industry News

Chipmaker Infineon to spend billions of euros to seek acquisitions

Views : 70
Update time : 2023-01-07 09:31:23
        According to reports, Infineon CEO Jochen Hanebeck said Infineon seeks acquisitions to boost growth and is prepared to spend billions of euros to acquire suitable targets, but would not comment on individual acquisition targets.
 
 
        Hanebeck told the Frankfurter Allgemeine Zeitung (FAZ), "We are always looking for the right company, ranging up to several billion (euros)," the report said.
        Demand for chips has surged in a variety of sectors, from smartphones to automobiles, and supply chain bottlenecks that have persisted for nearly two years have plagued global industries from automotive to healthcare and telecommunications. Infineon reported a 63 percent increase in profit to 3.4 billion euros in the fiscal year ending in the third quarter of this year, and the company said its growth was particularly reflected in electric vehicles, autonomous driving, renewable energy, data centers and the so-called Internet of Things.
        Infineon believes this is conceivable if underfunded start-ups want to join another business, but did not disclose potential acquisition targets. Hanebeck said it could expand its portfolio from areas such as power semiconductors, sensors, software and artificial intelligence.
        Infineon had acquired rivals Cypress Semiconductor and International Rectifier (IR) in 2019 and 2014 for $10 billion and $3 billion, respectively, to expand into next-generation automotive and networking technologies. To boost European capacity in a competitive market, Brussels in February introduced a so-called chip bill to add 15 billion euros of public and private investment in the sector by 2030, on top of the 30 billion euros of public investment already planned.
        Infineon said last month that it plans to build a new 5 billion euro factory in the eastern German city of Dresden. Meanwhile, TSMC is also rumored to be considering setting up its first European plant in Dresden. According to another media report, Intel has abandoned its goal of setting up a factory in eastern Germany in the first half of 2023.


 
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