Infineon acquires International Rectifier

Infineon acquires International Rectifier

Infineon acquires International Rectifier

German chip maker Infineon Technologies AG agreed to acquire International Rectifier Corporation, specialty semiconductor producer and world leader in power management technology, in cash deal for about $3 Billion.

Under the terms of the deal Infineon will pay $40 a share, a roughly 50 percent premium to International Rectifier shares closed on Tuesday.

“With their great knowledge of specific customer needs and their application understanding, International Rectifier employees will contribute to Infineon’s strategic development from product thinking to system understanding and system solutions,” Reinhard Ploss, Infineon’s chief executive, said in a statement. “The combination of Infineon’s and International Rectifier’s products, technological and innovative excellence, as well as distributional strength will unleash great potential.” added

Oleg Khaykin, President and CEO of International Rectifier, said: “This transaction provides significant value to our stockholders and opens new strategic opportunities for both our customers and employees. By combining two complementary providers in power management solutions, International Rectifier will benefit from Infineon’s products and technologies, manufacturing and operational excellence and greater R&D scale.”

Infineon’s financial advisors Bank of America Merrill Lynch and Citigroup support the transaction in debt financing about $2 Billion.

Infineon’s advising law firms were Freshfields Bruckhaus Deringer and Kirkland & Ellis.

International Rectifier was advised JPMorgan Chase and law firm Fried, Frank, Harris, Shriver & Jacobson.

Mr. Stakebay says:

Acquisition creates a highly complementary and innovative semiconductor product portfolio, distribution strength and a stronger regional presence.Integration complements Infineon’s 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.

 

CEO of Infineon Technologies AG ………………………………. Dr. Reinhard Ploss………(2012 – present)……………… € 1 832 032 (2013)

Dierctor, President and CEO of International Rectifier ……………Oleg Khaykin…………..(2008 – present)……………….$ 5 225 599 (2013)

 

 

INFINEON

INTERNATIONAL RECTIFIER

Revenue

€ 3.843 billion (2013)

$ 1.106 billion (2013)

Operating income

€ 325 million (2013)

$ 73.984 million(2013)

Profit

€ 272 million (2013)

$ 58.7 million(2013)

Total assets

€ 5.905 billion (2013)

$ 1.565 billion(2013)

Total Equity

€ 3.776 billion (2013)

$ 1.327 billion(2013)

Employees

26 375 (2013)

4165 (2013)

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