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Semiconductor Co. Pays $428M For Infineon Unit

Law360 (March 7, 2018, 6:14 PM EST) -- Cree Inc., a semiconductor company whose products are used for electric cars, power supplies and fast charging, acquired the radio-frequency power business of German rival Infineon Technologies AG for around €345 million ($428 million), the companies said Tuesday.

The deal, which closed Tuesday, grows the wireless market opportunity for Wolfspeed, a unit of North Carolina-based Cree, and Infineon will still be able to expand in the autonomous driving, renewables and electro-mobility sectors, according to the companies' release.

“This is a key element of Cree’s growth strategy...
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