Rumors Solidify as Cypress Announces Sale to Infineon; Raising FVE to $21
On June 3, German chipmaker Infineon announced an agreement to purchase Cypress Semiconductor for $23.85 a share, or a total enterprise value of approximately $10 billion, after rumors of a sale the previous week. While the two firms have overlapping end markets, technologically, the two are distinct. Cypress (through its merger with Spansion in 2015) has a portfolio of microcontrollers, flash products, and a growing portfolio of connectivity solutions, while Infineon is a large player in power ...Cypress Semiconductor manufactures and sells embedded system solutions for automotive, industrial, consumer and enterprise end markets. The company operates under two reportable business segments: Microcontroller and Connectivity Division, which focuses on connect and compute solutions for the Internet of Things and automotive solutions that improve the in-cabin user experience, as well as the company's intellectual property business; and Memory Products Division, which focuses on fail-safe storage and datalogging solutions for mission critical applications, as well as the company's nonvolatile DIMM subsidiary AgigA Tech Inc.
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