# Chipmaker Infineon ready to spend billions on acquisitions – CEO
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-12-29
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Infineon CEO Reveals Plans for Billion-Euro Acquisitions
Meta Description: Infineon's CEO reveals plans to acquire billion euro companies to fuel growth amidst chip demand surge and supply chain issues. Read more on Reuters.
URL: https://financedigest.com/chipmaker-infineon-ready-to-spend-billions-on-acquisitions-ceohtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-12-28t221238z2lynxmpeibr081rtroptp4infineon-strategy-acquisition-1736814665570-compressed.jpg)

MUNICH (Reuters) -Infineon is ready to spend several billion euros on the right takeover target as it searches for acquisitions to boost growth, Chief Executive Jochen Hanebeck said in an interview published on Wednesday.

The German chip maker is constantly “on the lookout” for suitable companies, Hanebeck told Frankfurter Allgemeine Zeitung (FAZ). “I see it in the range of up to a few billion (euros).”

The plans come at a time when demand for chips used in everything from smartphones to cars soars and supply chain bottlenecks lasting almost two [years have plagued global industries](https://www.financedigest.com/2022-the-year-that-facial-recognition-will-lead-the-fintech-industry.html "2022 – The year that facial recognition will lead the fintech industry") from autos to healthcare and telecoms.

Infineon, which reported a 63% jump in segment profit to 3.4 [billion euros](https://www.financedigest.com/eu-seeks-clarification-on-italy-post-covid-plan-freezes-19-billion-euros.html "EU seeks clarification on Italy post-COVID plan, freezes 19 billion euros") ($3.6 billion) in the fiscal year that ended Sept. 30, has said it sees growth in particular in electromobility, autonomous driving, renewable energy, data centres, and the so-called [internet of things](https://www.financedigest.com/2017-the-year-of-the-internet-of-some-things.html "2017 – The year of the Internet of ‘SOME’ Things").

The [CEO would not comment on individual takeover](https://www.financedigest.com/uniper-ceo-to-resign-due-to-government-takeover.html "Uniper CEO to resign due to government takeover") candidates, according to the newspaper. He said the company could expand its portfolio in several fields, including power semiconductors, sensors, software and [artificial intelligence](https://www.financedigest.com/types-of-artificial-intelligence.html "Types of artificial intelligence").

It was [quite conceivable that start-ups](https://www.financedigest.com/nothing-cryptic-about-new-crypto-start-up-quite-the-opposite.html "Nothing cryptic about new crypto start-up – quite the opposite           ") that are not sufficiently well financed, for example, would want to join a corporation, Hanebeck told FAZ.

Infineon had bought U.S. rivals Cypress Semiconductor for $10 billion and International Rectifier for $3 billion in 2019 and 2014, respectively, to [expand in next-generation automobiles and Internet technologies](https://www.financedigest.com/quesnays-female-founders-in-tech-competition-to-expand-program-with-focus-on-insurance-technology-and-event-at-insuretech-connect-2018.html "Quesnay’s Female Founders in Tech Competition to Expand Program with Focus on Insurance Technology and Event at InsureTech Connect 2018").

To boost production capacity in Europe in a fiercely contested market, Brussels in February launched the so-called Chips Act, enabling 15 billion euros in additional public and private investment in the industry by 2030 on [top](https://www.financedigest.com/5-top-tips-in-investing-on-diamonds.html "5 Top tips in Investing on Diamonds") of 30 billion euros of public investments already planned.

Infineon said last [month it was planning a new 5 billion-euro factory](https://www.financedigest.com/japans-factory-output-posts-biggest-fall-in-8-months-on-weak-autos-chips-sectors.html "Japan’s factory output posts biggest fall in 8 months on weak autos, chips sectors") in the eastern German city of Dresden.

Taiwan’s TSMC is also in advanced talks about setting up its first European plant in Dresden, [according to a media report](https://www.financedigest.com/ils-investment-returns-continue-to-outperform-according-to-aon-insurance-linked-securities-report.html "ILS investment returns continue to outperform, according to Aon insurance-linked securities report").

Intel, on the other hand, has backed away from its original target of [opening a chip factory in eastern Germany in the first half](https://www.financedigest.com/more-than-half-of-workers-are-open-to-leaving-their-current-employers.html "MORE THAN HALF OF WORKERS ARE OPEN TO LEAVING THEIR CURRENT EMPLOYERS") of 2023, according to another media report.

($1 = 0.9405 euros)

(Reporting by Kirsti Knolle, editing by John Revill, Maria Sheahan and Tomasz Janowski)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---