Avago Technologies Acquires Fiber Business from Infineon
Joint press release by Infineon and Avago
Munich, Germany and San Jose, California – April 2, 2007 – Infineon Technologies AG (FSE/NYSE: IFX) and Avago Technologies entered into a definitive agreement today, under which Avago will acquire Infineon’s Polymer Optical Fiber (POF) business, based in Regensburg, Germany.
Infineon’s Polymer Optical Fiber (POF) business is the leader in the fast growing market for automotive multimedia infotainment networks and transceivers for safety systems. This business unit also provides transmitters and receivers for transportation switching and home broadband services.
All research and development, marketing, and manufacturing employees of Infineon’s POF group are expected to become Avago employees and will continue to be located in the present Regensburg facility. Infineon will support Avago in seamlessly transitioning the POF business.
”Avago’s acquisition and integration of Infineon’s POF team is a logical step for combining complementary technologies and growing our presence in the automotive and industrial market, which is one of four targeted end markets for us,” said Fariba Danesh, general manager and vice president of Avago’s fiber optic products division. ”With our established worldwide sales channel, low cost manufacturing technique and strong industrial fiber position, Avago is well-positioned to leverage Infineon’s POF business unit to its fullest potential.”
Peter Bauer, Member of the Management Board and head of the Automotive, Industrial and Multimarket business group at Infineon Technologies, said, “We are convinced that Avago is the right company to offer POF a positive long term perspective. Avago’s strategic focus on the fiber optic components business will ensure that our customers will be serviced with innovative and cost-effective POF solutions in the future as well.”
The acquisition is expected to close within ninety days following the satisfaction of regulatory requirements and other customary closing conditions.
Avago media contacts:
phone: +1 408 435 6384
phone: +49 7031 436 3340
Avago Technologies is a leading supplier of analog interface components for communications, industrial and consumer applications. With a global employee presence, Avago provides an extensive range of analog, mixed-signal and optoelectronic components and subsystems to more than 40,000 customers. The company's products serve four end markets: industrial and automotive, wired infrastructure, wireless communications, and computer peripherals. It is recognized for providing high-quality products along with strong customer service. Avago’s heritage of technical innovation dates back 40 years to its Agilent/Hewlett-Packard roots.
Information about Avago is available on the Web at www.avagotech.com.
Infineon Technologies AG, Munich, Germany, offers semiconductor and system solutions addressing three central challenges to modern society including energy efficiency, connectivity and security. In fiscal year 2006 (ending September), the company achieved sales of Euro 7.9 billion (including Qimonda sales of Euro 3.8 billion) with approximately 42,000 employees worldwide (including approximately 12,000 Qimonda employees). With a global presence, Infineon operates through its subsidiaries in the US from Milpitas, CA, in the Asia-Pacific region from Singapore, and in Japan from Tokyo. Infineon is listed on the Frankfurt Stock Exchange and on the New York Stock Exchange (ticker symbol: IFX). Further information is available at www.infineon.com.