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Infineon sells Wireless Solutions Business to Intel for US$1.4 billion cash
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Intel has strengthened its position in the wireless technology stakes by purchasing Infineon’s Wireless Solutions (WLS) business. The cash transaction, valued at approximately US$1.4 billion, will see the WLS segment operate as a standalone business for its existing customers, while also contributing to Intel’s aim of further developing its connected computing capabilities.
The deal, scheduled for completion in the first quarter of 2011, will mean that Infineon has more resources to concentrate on expanding on its existing position in markets for automotive, industry and security technologies.
“The sale of WLS is a strategic decision to enhance Infineon’s value. We can now fully concentrate our resources towards strong growth in our core segments Automotive (ATV), Industrial & Multimarket (IMM) and Chip Card & Security (CCS). This creates a great perspective for all Infineon customers, employees and shareholders,” said Peter Bauer (pictured), CEO of Infineon Technologies AG. “We all stand to benefit enormously from this deal. Thanks to the outstanding effort of the employees and the management during the last years, WLS is excellently positioned to grow further with the new owner who is ideally suited for this business.”