... 2019 to holders of record of Cypress’s common stock at the close of business on June 27, 2019. With the deal wrapped up, Infineon has increased its market in the automotive semiconductor segment by 17 percent. The integration of Cypress is a major step for Infineon and a unique opportunity for our customers. (Bloomberg) -- Infineon Technologies AG’s $8.7 billion acquisition of Cypress Semiconductor Corp. was approved by the Committee on Foreign Investment in the United States, a small step forward for deals in an industry where regulatory and security concerns have stalled consolidation. (Bloomberg) -- Infineon Technologies AG’s $8.7 billion acquisition of Cypress Semiconductor Corp. was approved by the Committee on Foreign Investment in the … Also in the Cypress acquisition came Broadcom's WICED software development kit, which is designed for hardware makers to quickly get WiFi and Bluetooth up and running in … Its product range is a perfect match. We have to react accordingly to protect our employees and business partners, while making sure our business is being continued smoothly. Infineon rose 2.4% to 16.19 euros at 9:09 a.m. in Frankfurt on Tuesday after earlier gaining as much as 6.2%.Semiconductor deals have slowed in recent years because of a U.S.-China trade war and concern among some American policy makers that China is pursuing illicit means to acquire key technology.
In terms of customer interactions, there will be no changes for the time being.Infineon Technologies AG completes acquisition of Cypress Semiconductor Corporation. Its product range is a perfect match. The San José-based company has become part of Infineon effective as of the Closing. Cypress acquisition; Cypress is now Infineon. > Company Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) announced today the Closing of the acquisition of Cypress Semiconductor Corporation. We will offer the industry’s most comprehensive portfolio for linking the real with the digital world – comprising an unparalleled range of hardware, software and security solutions for the connected age.The acquisition makes Infineon one of the world's top 10 semiconductor manufacturers.Just as many other companies around the world, we are currently facing an exceptional situation due to the Corona virus. Home Announced in June 2019, the transaction was delayed because of a now finished review by the Committee on Foreign Investment in the United States (CFIUS). “While China pretty much killed the Qualcomm/NXP deal it is important to remember that was in the midst of the trade war between the US and China.” Schmidt added he’s “cautiously optimistic” that the Infineon deal will be approved.Shares of San Jose, California-based Cypress surged more than 40% in extended trading following the announcement. Infineon Technologies revealed it completed its €9 billion ($9.78 billion) acquisition of Cypress Semiconductor last week. We will do the utmost to ensure delivery and supply chain stability for our companies. The integration of Cypress is a major step for Infineon and a unique opportunity for our customers. In a string of tweets last month, the President said that he wants to make it easy for other countries, including China, to do business with the U.S. and keep the lines of trade open.Other industry deals are still in limbo. Shares of both companies surged.“CFIUS has completed its review of Cypress’s previously announced merger transaction with Infineon Technologies AG and determined that there are no unresolved national security concerns,” Cypress said in a statement Monday. At the time of the acquisition, Cypress was valued at 18.2 times NTM EBITDA ( a measure of profitability). Cypress Semiconductor stock rose close to 24% to $22.07 on Monday, nearing an eight-year high after it received a buyout offer from Germany-based chipmaker Infineon Technologies AG for $10.06 billion.
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