German Chipmaker Infineon Chief Eyes Takeovers Worth Billions Of Euros

Infineon Technologies AG IFNNF IFNNY looks to spend several billion euros on the right takeover target as it hunted for acquisitions, CEO Jochen Hanebeck said in a newspaper interview.
Infineon constantly looks for suitable companies in the range of up to a few billion (euros), Reuters reports citing the CEO.
The German chipmaker sees growth in electromobility, autonomous driving, renewable energy, data centers, and the so-called internet of things, which help connect items like appliances, factory equipment, and health monitors to the internet or other communications networks.
Also Read: Infineon Clocks 38% Revenue Growth In Q3; Forges EV Chip Supply Deal With Stellantis
In FY22, Infineon posted revenue growth of 30% to €14.2 billion ($15.1 billion), while segment profit jumped 63% to €3.4 billion.
Inadequately financed start-ups would probably want to join a corporation, Hanebeck said.
Hanebeck said the company could expand its portfolio in several fields, including power semiconductors, sensors, software, and artificial intelligence.
Price Action: IFNNY shares closed lower by 0.95% at $30.17 on Tuesday.
Photo Via Company