Cree, Inc. has acquired assets of Infineon Technologies AG Radio Frequency (RF) Power Business for approximately €345 million. The transaction expands the Cree Wolfspeed business unit’s wireless market opportunity.
“The acquisition strengthens Wolfspeed’s leadership position in RF GaN-on-SiC technologies and provides access to additional markets, customers and packaging expertise,” said Cree CEO Gregg Lowe.
“This is a key element of Cree’s growth strategy and positions Wolfspeed to enable faster 4G networks and the revolutionary transition to 5G.”
“Cree is a strong new owner for this portion of our RF business and has an excellent reputation in the industry,” said Reinhard Ploss, CEO of Infineon. “We are excited about the business rationale and the prospects for the combined businesses.
“At the same time, we will be able to focus our resources more effectively on Infineon’s strategic growth areas and will retain a strong technology portfolio for the wireless market.”
The acquired Infineon RF Power team and capabilities will complement Wolfspeed’s existing offerings and expertise with additional technology, design, packaging, manufacturing, and customer support.
This business holds a leading market position offering transistors and MMICs (Monolithic Microwave Integrated Circuits) for wireless infrastructure radio frequency power amplifiers based on both LDMOS and Gallium Nitride on Silicon Carbide (GaN-on-SiC) technologies.
The transaction includes: The main facility in Morgan Hill (CA) which includes packaging and test operations for LDMOS and GaN-on-SiC; Approximately 260 employees in the US locations, Morgan Hill and Chandler (AZ), as well as in Finland, Sweden, China and South Korea; and a transition service agreement.
Infineon will support the transaction with a long-term supply agreement for LDMOS wafers and related components out of Regensburg, Germany, and will also supply assembly and test services out of its facility in Melaka, Malaysia.