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Infineon to buy Cypress Semiconductors in $10 billion deal

Christian Fernsby ▼ | June 3, 2019
Infineon has agreed to buy Cypress Semiconductors in a deal valuing Cypress 9 billion euros ($10.1 billion), including debt.
Acquisition   Infineon
The Germany chipmaker said it intends to finance about 30% of total transaction value with equity and remainder with a combination of debt and cash.

The acquisition will reap cost synergies of 180 million euros per year by 2022 and revenue synergies of more than 1.5 billion euros in the long term, Infineon said.

Once Cypress Semiconductors has been integrated, Infineon targets through-cycle revenue growth of 9% or more and a segment result margin of 19 percent.