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Infineon Technologies AG to acquire International Rectifier for approximately $3 billion

Infineon Technologies AG and International Rectifier Corporation signed a definitive agreement under which Infineon will acquire International Rectifier for $40 per share in an all-cash transaction valued at approximately $3 billion. Infineon says that the integration complements its expertise in power semiconductors and adds system know-how in power conversion, while expanding its expertise in compound semiconductors (Gallium Nitride on Silicon) and driving greater economies of scale in production.

  • Infineon’s and International Rectifier’s product portfolios are 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 International Rectifier Board of Directors and Infineon’s Supervisory Board have approved the transaction. The closing of the transaction is subject to regulatory approvals in various jurisdictions and customary closing conditions, as well as approval of International Rectifier stockholders. The transaction is expected to close late in the calendar year 2014 or early in the calendar year 2015 subject to regulatory approval.

Comments

T2

International Rectifier supplies the major semiconductor modules for the current Tesla Model S and the previous Roadster. Details on the IR website.

Hopefully the fact that a German company is now involved with Tesla will cause a spurt in sales to Germany which have not been all they could be. Teutonic pride and all that.

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