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Infineon snaps up rival chipmaker Cypress for $10bn
https://www.bbc.com/news/live/business-48470910(snip)
Posted at 2:292:29
Infineon snaps up rival chipmaker Cypress for $10bn
German chipmaker Infineon Technologies has agreed to buy US rival Cypress Semiconductor in a deal worth $10bn including debt.
Infineon will $23.85 per share in cash, an all-time high for Cypress shares. It’s 55% higher than the share price was last week before the news of the deal started to leak.
Cypress was founded in 1982 by chip engineer T J Rodgers. He grew the firm to a skilled maker of a wide variety of memory, sensor, and Internet of Things chips before stepping down in 2016.
The companies said they expect the transaction to be completed by the end of 2019 or early 2020.
(snip)
