Infineon Technologies (IFNNY) Completes Sale of Wireline Business to Lantiq
More News related to IFNNY
- Infineon and ARM Announce Strategic Architectural License Agreement for Advanced Security Applications
- Infineon Technologies (IFNNY) Completes Sale of Wireline Business to Lantiq
- Infineon and TSMC Extend Technology And Production Partnership Agreement; Will Jointly Develop 65nm Embedded Flash Process Technology For Automotive and Chip Card Applications
- Bank of America Upgrades Infineon (IFNNY) to Buy
- Bank of America Downgrades Infineon (IFNNY) to Underperform
More News related to Corporate News
- Maxim Group Initiates Coverage on Golden Green Enterprises (CHOP) with a Buy
- Hilliard Lyons Initiates Coveage on Approach Resources (AREX) with a Buy
- Wells Fargo Transfers Coverage on Intuitive Surgical (ISRG) to a Market Perform; Raises Valuation Range
- Wedbush Initiates Coverage on Coinstar (CSTR) with an Outperform
- Thomas Weisel Starts FARO Tech. (FARO) at Overweight, $24 Price Target
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.
[SM]
Related Categories
Corporate NewsStocks Mentioned
-0.04Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
