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Infineon Technologies To Buy GaN Systems For US$830 Mln

March 02, 2023 — 08:54 pm EST

Written by RTTNews.com for RTTNews->

(RTTNews) - Infineon Technologies AG (IFNNY) said it agreed to buy GaN Systems Inc. for US$830 million.

GaN Systems is headquartered in Ottawa, Canada, and has more than 200 employees.

The planned acquisition of GaN Systems in an all-cash transaction will be funded from existing liquidity, Infineon said.

The transaction is subject to customary closing conditions, including regulatory approvals.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
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