Infineon is willing to spend several billion euros on the right acquisition target as part of a search for acquisitions to boost its growth, said its chief executive, Jochen Hanebeckin an interview published on Wednesday.
The German chipmaker is constantly “on the hunt” for suitable companies, he said. Hanebeck to the Frankfurter Allgemeine Zeitung (FACE). “I see it in the range of up to a few billion (of euros).”
The plans come at a time when demand for semiconductors for everything from smartphones to cars is skyrocketing, and supply chain bottlenecks of nearly two years have ravaged global industries. from automotive to healthcare and telecommunications.
Infineon, which posted a 63% increase in its segment profit, up to 3,400 million euros (3.6 billion dollars) in the fiscal year that ended on September 30, has stated that it expects growth, especially in the sectors of electromobility, autonomous driving, renewable energy, data centers and the so-called Internet of Things. things.
According to the newspaper, the CEO declined to comment on individual takeover candidates. He said the company could expand its portfolio in various fields, such as power semiconductors, sensors, software and artificial intelligence.
Hanebeck told FAZ that it is very possible that, for example, there are start-ups that are not sufficiently well financed and want to join a corporation.
Infineon bought US rivals Cypress Semiconductor for $10 billion and International Rectifier for $3 billion in 2019 and 2014, respectively, to expand into next-generation automobiles and internet technologies.
To boost production capacity in Europe in a fiercely contested market, Brussels launched the so-called Chip Law in February, which allows 15 billion euros in additional public and private investment in the industry by 2030, on top of the 30 billion euros of planned public investments.