Infineon Technologies announced that it has received all necessary regulatory approvals for the acquisition of Cypress Semiconductor. Infineon expects to close the transaction within five business days.
In early June 2019, Infineon and Cypress announced that the companies had signed a definitive agreement under which Infineon would acquire Cypress. With the acquisition, Infineon will be able to offer the industry's most comprehensive portfolio for connecting the real to the digital world and shaping digitisation. The company's profitable growth path will be accelerated as it evolves from a leader in components to a leader in system solutions for the automotive, industrial and Internet of Things markets. Its customers will benefit from Infineon's enhanced global reach and advanced support in designing for their needs.
The transaction will initially be financed through a combination of cash and a financing facility provided by banks. Infineon will use the proceeds from the equity placement and the hybrid bond issue in 2019, totalling EUR 2.7 billion.
