Infineon Reaches Agreement to Buy Marvell's Automotive Ethernet Unit
(MENAFN) Infineon, a leading chip manufacturer based in Germany, has reached an agreement to purchase the automotive ethernet division of its competitor Marvell Technology for EURO2.5 billion (USD2.7 billion). This acquisition aims to bolster Infineon’s position within the automotive industry.
As stated by Infineon on Monday, Marvell Technology has agreed to the German company’s cash offer for the automotive ethernet unit. The transaction is expected to be finalized this year, pending the necessary regulatory approvals.
Ethernet is a crucial technology that allows for the seamless exchange of data between software and hardware, a key component in the development of software-driven vehicles and electric cars.
The announcement emphasized that "The planned investment will strengthen Infineon’s already strong footprint in the US, including extensive R&D activities."
Infineon, which employs 58,600 people, operates 69 research and development centers along with 17 production facilities.
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