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General

Infineon buys Cypress for USD 9 bln in cash

Monday 3 June 2019 | 10:05 CET | News
Update: 3 June 2019 | 10:09 CET
Infineon Technologies has agreed to buy Cypress Semiconductor for USD 23.85 per share in cash, for a total enterprise value of EUR 9.0 billion. Infineon CEO Reinhard Ploss said the deal will open up additional growth potential in the automotive, industrial and Internet of Things sectors and make the company's business model more resilient. The acquisition will also strengthen Infineon's geographical reach, especially in the Japanese market. 

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[03/06/2019 10:09- Update: added long term target]


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Categories: General
Companies: Infineon
Countries: World
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