LanTIq turns into an independent enterprise; Infineon ’s wired communications business is sold
Infineon Technologies AG and LanTIq announced that Infineon ’s sale of its wired communications (WLC) business to LanTIq has been completed. LanTIq is an affiliate of Golden Gate Capital, an American investment agency.
Peter Ball, Chief Executive Officer of Infineon Technologies, said: "We are very pleased to successfully complete this transaction with Golden Gate Capital. I am pleased to see that our former Wired Communications Division (WLC) It has been fully prepared to gain a leading edge in its core market and has received the support it needs. Infineon will actively assist the smooth handover between Infineon and Lantiq for the benefit of both customers and partners. This transaction effectively demonstrates our strategy to increase R & D investment in advantageous business areas. Infineon will continue to consolidate its technological leadership in the following three areas: energy efficiency, connectivity and security. "
The new company Lantiq is a fabless semiconductor company, with more than 20 years of experience in the field of wireless communications, and a strong technical foundation, holding more than 800 patents. Lantiq will continue to promote technological innovation in the field of next-generation access and home networking.
Christian Wolff, CEO of Lantiq said: "This is an exciting day for Lantiq and an important milestone in the company's history. We will further increase market penetration and better serve our customers by improving our product portfolio .Lantiq ’s recently announced first acquisition in the field of home networking business demonstrates our importance and commitment to the wired communications market. â€
Infineon's sale of its WLC business to Golden Gate Capital was announced in July this year. After adjusting the asset purchase agreement between Infineon and Golden Gate Capital accordingly, the final purchase price was approximately 243 million euros.
Affected by this transaction, Infineon's net profit is expected to exceed 100 million euros in the first quarter of the fiscal year ended September 30, 2010.
Lantiq is a market leader in the broadband access market, with approximately 900 employees worldwide. The company is one of the 15 largest fabless semiconductor companies in the world and ranks fifth among similar companies in Europe.
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