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German semiconductor manufacturer Infineon announces acquirement of Int'l Rectifier

Xinhua, January 14, 2015 Adjust font size:

German semiconductor manufacturer Infineon Technologies AG announced Tuesday the closing of the acquisition of International Rectifier following the approval of all necessary regulatory authorities and International Rectifier's shareholders.

"The acquisition of International Rectifier is an important step for Infineon to foster our position as a global market leader in power semiconductors. We are sure that International Rectifier and its employees will make a great contribution to a joint successful future. Together both companies make a powerful combination," Infineon CEO Reinhard Ploss said in the released announcement.

Details of revenue or profit targets after the merger are not mentioned in the announcement.

Infineon plans mainly to have better access to the American and Asian market through the takeover, the biggest one in its company history, according to the German news agency dpa.

Last August, Infineon announced that it was to acquire the American power management technology company International Rectifier in a deal worth approximately 3 billion U.S. dollars. The board of directors of International Rectifier and Infineon's supervisory board unanimously supported the offer. Endit