Munich, Germany, and Ottawa, Canada – Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) today announced the closing of the acquisition of GaN Systems Inc. (“GaN Systems”). The Ottawa-based company brings with it a broad portfolio of gallium nitride (GaN)-based power conversion solutions and leading-edge application know-how. All required regulatory clearances have been obtained and GaN Systems has become part of Infineon effective as of the closing.
“GaN technology is paving the way for more energy-efficient and CO 2-saving solutions that support decarbonization,” said Jochen Hanebeck, CEO of Infineon. “The acquisition of GaN Systems significantly accelerates our GaN roadmap and further strengthens Infineon’s leadership in power systems through mastery of all relevant power semiconductor technologies. We welcome our new colleagues from GaN Systems to Infineon.”
Infineon now has a total of 450 GaN experts and more than 350 GaN patent families, which expands the company’s leading position in power semiconductors and considerably speeds up time-to-market. Both companies’ complementary strengths in IP and application understanding as well as a well-filled customer project pipeline put Infineon in an excellent position to address various fast-growth applications.
On 2 March 2023, Infineon and GaN Systems announced that the companies had signed a definitive agreement under which Infineon would acquire GaN Systems for US$830 million. The acquisition, an all-cash transaction, was funded from existing liquidity.
Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 56,200 employees worldwide and generated revenue of about €14.2 billion in the 2022 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).