Infineon ready to spend billions on acquisitions – CEO

Infineon ready to spend billions on acquisitions - CEO
FILE PHOTO: The logo of semiconductor manufacturer Infineon is seen in Villach, Austria, June 3, 2018. REUTERS/Lisi Niesner/File Photo

MUNICH :Infineon is ready to spend several billion euros on the right takeover target as it searches for acquisitions, Chief Executive Jochen Hanebeck said in an interview published on Wednesday.

The German chip maker is constantly “on the lookout” for suitable companies, Hanebeck told Frankfurter Allgemeine Zeitung (FAZ). “I see it in the range of up to a few billion (euros).”

The chipmaker has said that it sees growth in particular in electromobility, autonomous driving, renewable energy, data centres, and the so-called internet of things – in which items like appliances, factory equipment and health monitors are connected to the internet or other communications networks.

In its fiscal year through September 2022, Infineon posted a rise in revenue by nearly 30 per cent to 14.2 billion euros ($15.1 billion), while segment profit jumped 63 per cent to 3.4 billion euros.

It is quite conceivable that start-ups that are not sufficiently well financed, for example, would want to join a corporation, Hanebeck told FAZ.

The CEO would not comment on individual takeover candidates, according to FAZ.

He said the company could expand its portfolio in several fields, including power semiconductors, sensors, software and artificial intelligence.

($1 = 0.9396 euros)


Source: Reuters