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Intel to acquire Infineon’s wireless solutions business |
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Infineon Technologies AG and Intel Corporation inked a deal to transfer Infineon’s Wireless Solutions (WLS) business to Intel in a cash transaction valued at approximately $1.4 billion.  WLS provides cellular platforms to top tier global phone makers. Intel that after the acquisition, it would operate as a standalone business serving existing customers while contributing to Intel’s strategy to make connected computing ubiquitous from smart phones to laptops to embedded computing. WLS has annual revenue of EUR 917 million, accounting for around 30 percent of Infineon’s total annual revenue of Euro 3.03 billion in the past financial year. Intel's board of directors and the supervisory board and the management board of Infineon have approved the transaction, which is expected to close in the first quarter of 2011 subject to regulatory approvals and closing conditions.Peter Bauer, CEO of Infineon Technologies AG said the sale of WLS is strategic and will enhance Infineon’s value as the company would now concentrate resources towards growth in its core segments of Automotive (ATV), Industrial & Multimarket (IMM) and Chip Card & Security (CCS). Paul Otellini, Intel president and CEO said the acquisition is the result of spiraling global demand for wireless solutions. “The acquisition of Infineon’s WLS business strengthens the second pillar of our computing strategy -- Internet connectivity -- and enables us to offer a portfolio of products that covers the full range of wireless options from Wi-Fi and 3G to WiMAX and LTE. As more devices compute and connect to the Internet, we are committed to positioning Intel to take advantage of the growth potential in every computing segment, from laptops to handhelds and beyond,” he said. Intel plans to maintain WLS as a standalone business to ensure continuity of existing customer sales, projects and support. WLS, Intel, presently leads in the field of wireless mobility and cellular platforms for smart phones and ultra-low-cost, entry phones. It provides baseband processors, radio-frequency transceivers, power management integrated circuits (ICs), additional connectivity features, single-chip solutions as well as the corresponding system software. This helps to enable smooth transmission of voice and high-speed data from the backbone of the telecommunication network to the end user’s device. |
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