Infineon to Acquire Cypress Semiconductor Aiming Expanded Growth in Connectivity Technologies
Infineon Technologies AG and Cypress Semiconductor Corporation announced that the companies have signed a definitive agreement under which Infineon will acquire Cypress for US$23.85 per share in cash, corresponding to an enterprise value of €9.0 billion. The transaction is expected to yield €180 million in cost synergies per annum by 2022 and more than €1.5 billion annual revenue synergies in the long-term, the announcement states.