IBM and Infineon divest joint venture Altis Semiconductor
Joint news release by IBM and Infineon Technologies
Neubiberg, Germany – August 12, 2010 – In a joint effort to secure the future of Altis Semiconductor and its employees, IBM (NYSE:IBM) and Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) today closed a transaction to sell 100% of the share capital of Altis Semiconductor to the new corporation Altis International. IBM and Infineon said this completes the divestment of their joint venture Altis Semiconductor in France.
Altis International is owned by Mr. Yazid Sabeg. The French entrepreneur is also chairman of the board of the company CS Communication & Systèmes which is specialized in communications and security systems.
IBM and Infineon have also entered into supply agreements with Altis Semiconductor and will continue to use the production facility in France under their silicon foundry sourcing strategies and as a subcontractor for wafer test services.
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Infineon Technologies AG, Neubiberg, Germany, offers semiconductor and system solutions addressing three central challenges to modern society: energy efficiency, mobility, and security. In the 2009 fiscal year (ending September), the company reported sales of Euro 3.03 billion with approximately 25,650 employees worldwide. With a global presence, Infineon operates through its subsidiaries in the U.S. from Milpitas, CA, in the Asia-Pacific region from Singapore, and in Japan from Tokyo. Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY).