Infineon To Sell NOR Flash And F-RAM Business

(RTTNews) - Infineon Technologies (IFX.DE, 1IFX.MI) has entered into a definitive agreement under which Winbond Electronics, a Taiwan-based global supplier of semiconductor memory solutions, will acquire Infineon's NOR Flash and F-RAM business in an all-cash deal valued at $1.12 billion on a cash and debt free basis. Winbond will operate the acquired business as a standalone entity with headquarters in Silicon Valley. "The transaction allows Infineon to further focus its portfolio and capital allocation on its core growth drivers. At the same time, it enables our NOR Flash and F-RAM business to unlock its full potential," said Peter Schiefer, President of Infineon's Automotive Division. Infineon Technologies shares were trading at 55.