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Infineon Sells Off Mobile Business Unit to Intel

Tue, 02/08/2011 - 4:16am
Germany/USA, 31st January - Infineon Technologies has completed the sale of its Wireless Solutions division to Intel Corporation. Following the sale, approximately 3,500 employees in total will move globally from Infineon to the new company Intel Mobile Communications GmbH (IMC). IMC will be headquartered in Neubiberg near Munich. Prof. Dr. Hermann Eul will become the President of IMC, leaving his position as Member of the Management Board of Infineon Technologies AG.

“I’m very glad to be able to hand over the mobile phone business to Intel in such great shape, and am delighted to know it will be led by Prof. Dr. Eul. Together with Intel there are bright prospects for further growth and further strengthening its market position”, said Peter Bauer, CEO of Infineon. “This transaction marks the completion of Infineon´s reorientation over the last years toward a higher stability. Infineon currently holds market leading positions in each of its three remaining business segments – automotive, industrial and security electronics – and enjoys excellent prospects in these markets in terms of growth and profitability.”

www.infineon.com

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