7 hours Ago
(Reuters) - German chipmaker Infineon Technologies said on Monday it would buy Marvell Technology's automotive ethernet business for about $2.5 billion in cash, to expand its microcontroller segment. The automotive ethernet business, which will become a part of Infineon's automotive division, is expected to generate revenue between $225 million and $250 million in the calendar year 2025, with a gross margin of nearly 60%.
Infineon has secured acquisition financing from banks and will incur additional debt to finance the deal and expects it to close this year. (Reporting by Vallari Srivastava in Bengaluru and Juby Babu in Mexico City; Editing by Alan Barona and Mohammed Safi Shamsi).
