Infineon Technologies AG has successfully completed its acquisition of American-based International Rectifier Corporation. With all necessary regulatory approvals and shareholder consents obtained, International Rectifier, headquartered in El Segundo, is now officially part of Infineon. This strategic move marks a significant milestone in Infineon’s ongoing efforts to strengthen its position in the global power semiconductor market.
Dr. Reinhard Ploss, CEO of Infineon, stated, “The acquisition of International Rectifier represents a key step forward for Infineon. It will reinforce our leadership in the power semiconductor industry and enable us to deliver even more value to our customers. We believe that combining the strengths of both companies will create a win-win situation, enhancing our ability to provide innovative, competitive solutions tailored to customer needs. This acquisition also supports our transition from ‘product thinking’ to ‘system insight,’ helping us better understand and meet the evolving demands of the market.â€
Following the completion of the deal, the company will be led by CEO Dr. Reinhard Ploss, along with Arunjai Mittal, member of the Regional Sales, Marketing, Strategic Planning, and M&A Management Committee, and CFO Dominik Asam. Robert LeFort, former president of International Rectifier and current President of Infineon North America, will continue to play a key role in the combined organization.
International Rectifier complements Infineon’s existing product portfolio, expanding its capabilities in power management systems and broadening its reach to SMEs across the U.S. and Asia. The acquisition brings valuable expertise in compound semiconductors, particularly gallium nitride (GaN), further strengthening Infineon’s technological leadership. Additionally, the merger is expected to enhance production efficiencies and overall competitiveness.
From an accounting perspective, the acquisition is anticipated to positively impact earnings per share (EPS) for the current fiscal year. The operational improvements at International Rectifier are already showing strong momentum, and the synergies created through the merger are expected to drive long-term value.
By the end of FY17, International Rectifier’s contribution to the post-merger company is projected to match Infineon’s target profit margin, which averages 15% during semiconductor industry upturns.
This acquisition was announced on August 20, 2014, when Infineon agreed to acquire International Rectifier for approximately $3 billion. The deal received unanimous approval from both companies' boards, and shareholders of International Rectifier approved it with 99.5% of the votes cast. Regulatory approvals were also secured, paving the way for the successful integration of the two industry leaders.
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