Leaders of Infineon and International Rectifier announced a definitive agreement last week under which Infineon will acquire International Rectifier for $3 billion cash.
The acquisition brings advanced gallium nitride (GaN) on silicon power semiconductor technology to Infineon. This combination will accelerate and solidify Infineon’s position in GaN discretes and GaN system solutions, officials say.
The acquisition combines two power-management semiconductor companies, and will enable Infineon to complement its offerings broaden its range of products and grow its regional footprint, Infineon officials say.
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, officials say.
In a letter to suppliers, International President and CEO Oleg Khaykin said he expects the sale to close late this year or early next, at which time International Rectifier will become a wholly owned subsidiary of Infineon. Until then the two companies will operate as independent companies.