- Combination further strengthens Infineon as leading supplier of power and radio-frequency (RF) power solutions in high-growth markets such as electro-mobility, renewables and next-generation cellular infrastructure relevant for the Internet of Things (IoT)
- Acquisition further enables Infineon to provide the most compelling power solutions with the broadest offering in compound semiconductors including silicon carbide (SiC), gallium nitride on silicon (GaN-on-Si), and gallium nitride on silicon carbide (GaN-on-SiC)
- Transaction to be immediately margin and adjusted earnings-per-share accretive
- Transaction will be financed by incremental debt of US Dollar 720 million and US Dollar 130 million cash-on-hand
- Closing expected by the end of calendar year 2016
Infineon Technologies AG and Cree, Inc. announced today that Infineon has entered into a definitive agreement to acquire the Wolfspeed Power and RF division (“Wolfspeed”) of Cree. The deal also includes the related SiC wafer substrate business for power and RF power. The purchase price for this planned all-cash transaction is US Dollar 850 million (approximately Euro 740 million). This acquisition will enable Infineon to provide the broadest offering in compound semiconductors and will further strengthen Infineon as a leading supplier of power and RF power solutions in high-growth markets such as electro-mobility, renewables and next-generation cellular infrastructure relevant for IoT.