Infineon to buy Cypress Semiconductors in $10 billion deal

FRANKFURT: Infineon has agreed to buy Cypress Semiconductors in a deal valuing the U.S. maker of microchips used in cars and electronic devices at 9 billion euros ($10.1 billion), including debt, the German company said on Monday.

The cash offer of $23.85 per share represents a 46% premium to Cypress’ share price over the last month, the German maker of power-management chips used in cars, smartphones and wind turbines said.

“With the addition of Cypress, Infineon will consequently strengthen its focus on structural growth drivers and serve a broader range of applications,” it added.