Ericsson sells Microelectronics to Infineon Technologies
“Ericsson is the leading infrastructure technology provider and we have found Infineon to be the ideal supplier and partner for our end-to-end solutions in mobile and broadband Internet,“ says Kurt Hellström, CEO and President of Ericsson. “We view this as a significant step in further focusing on our core business.“
The purchase includes Ericsson Microelectronics AB in Sweden and related global activities. Infineon Technologies takes over approximately 700 employees, also products, research & development, and manufacturing including production equipment. However, at the two manufacturing facilities in Stockholm 600 manufacturing staff will remain Ericsson employees.
Approval by the responsible anti-trust authorities is pending, and closing is expected during summer 2002.
“This strategic partnership will significantly strengthen our communications business,” says Dr. Ulrich Schumacher, CEO and President of Infineon Technologies. “In addition to building on our wireless design expertise, Infineon will team up with Ericsson as a leader in the wireless world and become a strategic partner.”