In a shock move, Infineon Technologies in Germany is to sell its US-based hi-rel DC-DC converter business.
The sale to Micross Components in Florida includes the hybrid and custom board-based power products that are used in harsh environments including space.
This will enable Infineon to focus investment on core semiconductor developments for the high-reliability market, while deemphasizing businesses that require more customized product offerings for the high-reliability industry, says the company. The deal is expected to close in the first quarter of 2023 and the terms were not disclosed.
Micross was founded 40 years ago and has its hi-rel centre of excellence in Florida. It also has a global distribution deal with EPC Space, which competes with Infineon in GaN power chips.
The DC-DC converter business will operate under the Micross Hi-Rel Products business segment offering complete power solutions, including main power converter, control circuits, filters and housings.
Infineon emphasises that it will continue with its Hi-rel business.
“Infineon is pleased to have reached an agreement with Micross to provide a more strategic home for our HiRel DC-DC converter business,” said Bob LeFort, President of Infineon Technologies Americas (above). “We believe this sale is in the best interest of both companies; our customers, employees, and shareholders. This transaction enables Infineon to remain focused on the HiRel business areas that benefit from Infineon’s leading semiconductor technologies.”
“In our retained HiRel businesses, Infineon will strengthen its focus on these target applications, along with others that demand the highest reliability and highest performance. We are committed to the mission-critical space, defense, and aerospace industries,” said Chris Opoczynski, Sr. Vice President and General Manager for the HiRel Business Line at Infineon
“We are excited about the significant proprietary power management IP that combined with their state of the art manufacturing capabilities and product portfolio leads the way for advancement of innovative solutions,” said Vince Buffa, Chairman and CEO of Micross.
Micross is on the acquisition trail, last week announcing a deal to buy KCB Solutions, a developer of GaN/GaAs RF and microwave switches, attenuators, amplifiers, multi-chip and functional modules in both standard and custom forms.
“We look forward to working with Micross to ensure a seamless transition for our customers and employees,” said LeFort at Infineon.