Infineon sells wireline communication unit
Chip manufacturer Infineon Technologies is to sell off its wireline communication (WLC) unit to US investors for €250million.
In a bid to reduce costs, the German company has been forced to sell the business to Golden Gate Capital, which it hopes will improve its financial situation. It will now concentrate its efforts on four sectors – automotive, industrial and multimarket, chipcard and security and wireless solutions.
Peter Bauer, Infineon's ceo, said that by a more refined focus will enable the organisation to expand its technological position, while Christian Wolff, designated ceo of the new company, stated that WLC is well positioned to 'stand on its own feet'. He said: "With the financial backing of Golden Gate Capital, we are well positioned to continue our investment in innovative broadband products for our customers and therefore benefit from growth opportunities in the market."
