The two companies had initially signed a definitive agreement under which Infineon would acquire Cypress in June 2019. The acquisition will provide Infineon with a comprehensive portfolio for bridging the real and digital worlds. It will accelerate Infineon’s evolution from a component provider to a systems provider for the automotive, industrial and IoT markets. The acquisition will also increase Infineon’s global reach and allow it to provide better support.
The transaction will initially be funded through a combination of cash on hand and a committed acquisition financing facility provided by banks.