Avago Technologies Acquires Fiber Business from Infineon.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif. & MUNICH -- Avago Technologies Avago Technologies is an American company which was earlier the semiconductor products division of HP and later Agilent Technologies, before being spun off into a distinct legal entity. It holds more than 2,000 patents. and Infineon Technologies For the raceway, see . Infineon Technologies AG (ISIN: DE0006231004, FWB: IFX, NYSE: IFX) was founded in April 1999 when the semiconductor operations of parent company, Siemens AG, were spun off to form a separate legal entity. AG entered into a definitive agreement today, under which Avago will acquire Infineon's Polymer Optical Fiber (POF POF Piano dell'Offerta Formativa (Italy) POF Piano dell'Offerta Formativa (Italian school document) POF Plastic Optical Fiber POF Premature Ovarian Failure (early menopause) ) business, based in Regensburg, Germany. Infineon's Polymer Optical Fiber (POF) business is the leader in the fast growing market for automotive multimedia infotainment networks and transceivers for safety systems. This business unit also provides transmitters and receivers for transportation switching and home broadband services See broadband and broadband service provider. . All research and development, marketing, and manufacturing employees of Infineon's POF group are expected to become Avago employees and will continue to be located in the present Regensburg facility. Infineon will support Avago in seamlessly transitioning the POF business. "Avago's acquisition and integration of Infineon's POF team is a logical step for combining complementary technologies and growing our presence in the automotive and industrial market, which is one of four targeted end markets for us," said Fariba Danesh, general manager and vice president of Avago's fiber optic products division. "With our established worldwide sales channel, low cost manufacturing technique and strong industrial fiber position, Avago is well-positioned to leverage Infineon's POF business unit to its fullest potential." Peter Bauer, Member of the Board and Head of the Automotive, Industrial and Multimarket business group at Infineon Technologies, said, "We are convinced that Avago is the right company to offer POF a positive long term perspective. Avago's strategic focus on the fiber optic components business will ensure that our customers will be serviced with innovative and cost-effective POF solutions in the future as well." The acquisition is expected to close within ninety days following the satisfaction of regulatory requirements and other customary closing conditions. About Avago Technologies Avago Technologies is a leading supplier of analog interface components for communications, industrial and consumer applications. With a global employee presence, Avago provides an extensive range of analog, mixed-signal and optoelectronic components and subsystems to more than 40,000 customers. The company's products serve four end markets: industrial and automotive, wired infrastructure, wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. , and computer peripherals. It is recognized for providing high-quality products along with strong customer service. Avago's heritage of technical innovation dates back 40 years to its Agilent/Hewlett-Packard roots. Information about Avago is available on the Web at www.avagotech.com. About Infineon Infineon Technologies AG, Munich, Germany, offers semiconductor and system solutions addressing three central challenges to modern society including energy efficiency, connectivity and security. In fiscal year 2006 (ending September), the company achieved sales of Euro 7.9 billion (including Qimonda sales of Euro 3.8 billion) with approximately 42,000 employees worldwide (including approximately 12,000 Qimonda employees). With a global presence, Infineon operates through its subsidiaries in the US from Milpitas, CA, in the Asia-Pacific region from Singapore, and in Japan from Tokyo. Infineon is listed on the Frankfurt Stock Exchange Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. and on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors : IFX IFX - ["Type Reconstruction with First-Class Polymorphic Values", J. O'Toole et al, SIGPLAN Notices 24(7):207-217 (Jul 1989)]. ). Further information is available at www.infineon.com. Meaningful Cautionary Statement Regarding Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This announcement and supporting materials may contain statements, which address our expected future business and financial performance, and contain words such as "expects", "anticipates," "estimates," "intends," "plans," "believes," "seeks," or "will." These statements by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause our actual future results to be materially different than those we express in our forward-looking statements; accordingly, undue reliance should not be placed on these statements. These statements are made only as of the date of this communication and Avago and Infineon undertake no obligation to update or revise these statements. Avago, Avago Technologies, and the A logo are trademarks of Avago Technologies Limited in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and other countries. |
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