Infineon Technologies (IFNNY) Completes Sale of Wireline Business to Lantiq
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Infineon Technologies AG (OTC: IFNNY) and Lantiq today announced the closing of the sale of Infineon's Wireline business to Lantiq, an affiliate of the U.S. based investor Golden Gate Capital.
The new company, Lantiq, is a fabless semiconductor company with over 20 years of experience in Wireline communication and a strong technical foundation with over 800 patent families. Lantiq will continue to drive innovation for the Next-Generation Access and Home Networks.
The sale of Infineon WLC to Golden Gate Capital was announced in July this year. The final purchase price will amount to approximately EUR 243 Million resulting from customary adjustments in the asset purchase agreement with Golden Gate Capital. Infineon is expected to record a book gain of more than Euro 100 Million as a result of this transaction in the first quarter of its fiscal year ending September 30, 2010.
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