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Infineon acquires wireless products unit from LSI |
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Aug 21, 2007 at 12:53 PM |
 Infineon Technologies has further strengthened its position within the communications arena and in wireless handset market in particular with the acquisition of LSI Corp's Mobility Products Group for $450 million in cash. The unit was formerly a part of Agere Systems, which LSI acquired in April for $4 billion.
"This move demonstrates our commitment to maintain and grow our leadership in the wireless market. The business acquired from LSI will significantly strengthen our position at important mobile phone makers and will add highly qualified experts to the Infineon team," said Dr. Wolfgang Ziebart (pictured), President and CEO of Infineon Technologies.
"Infineon's strong commitment to the mobility market will ensure our customers have access to a stronger supplier and a broader portfolio of solutions to address their needs," noted Abhi Talwalkar, LSI President and Chief Executive Officer. "LSI is fully committed to work with Infineon to provide a seamless transition for customers."
Upon closing, approximately 700 LSI employees will join the Infineon Communications Solutions business group. Infineon will also enter into additional agreements with LSI, including an intellectual property agreement, a transition services agreement and a supply agreement.
With the completion of the acquisition, Infineon Technologies will have close to 50,000 employees around the world.
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