Avago Technologies Acquires Fiber Business from Infineon
Infineon Technologies AG (FSE/NYSE: IFX) and Avago Technologies entered into a definitive agreement today, under which Avago will acquire Infineon’s Polymer Optical Fiber (POF) business, based in Regensburg, Germany.
Infineon’s Polymer Optical Fiber (POF) business is the leader in the fast growing market for automotive multimedia infotainment networks and transceivers for safety systems. This business unit also provides transmitters and receivers for transportation switching and home broadband services.
All research and development, marketing, and manufacturing employees of Infineon’s POF group are expected to become Avago employees and will continue to be located in the present Regensburg facility. Infineon will support Avago in seamlessly transitioning the POF business.
”Avago’s acquisition and integration of Infineon’s POF team is a logical step for combining complementary technologies and growing our presence in the automotive and industrial market, which is one of four targeted end markets for us,” said Fariba Danesh, general manager and vice president of Avago’s fiber optic products division. ”With our established worldwide sales channel, low cost manufacturing technique and strong industrial fiber position, Avago is well-positioned to leverage Infineon’s POF business unit to its fullest potential.”
Peter Bauer, Member of the Management Board and head of the Automotive, Industrial and Multimarket business group at Infineon Technologies, said, “We are convinced that Avago is the right company to offer POF a positive long term perspective. Avago’s strategic focus on the fiber optic components business will ensure that our customers will be serviced with innovative and cost-effective POF solutions in the future as well.”
The acquisition is expected to close within ninety days following the satisfaction of regulatory requirements and other customary closing conditions.
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