Infineon Technologies, a German semiconductor manufacturer, agreed to acquire Cypress Semiconductor, an American semiconductor design and manufacturing company, for €9bn. The offer price represents a 46% premium to Cypress’s unaffected 30-day volume-weighted average price during the period from April 15 to May 28, 2019. The closing is expected by the end of calendar year 2019 or early 2020. “The planned acquisition of Cypress is a landmark step in Infineon’s strategic development. We will strengthen and accelerate our profitable growth and put our business on a broader basis. With this transaction, we will be able to offer our customers the most comprehensive portfolio for linking the real with the digital world. This will open up additional growth potential in the automotive, industrial and Internet of Things sectors. This transaction also makes our business model even more resilient. We look forward to welcoming our new colleagues from Cypress to Infineon. Together, we will continue our shared commitments to innovation and focused R&D investments to accelerate technology advancements,” Reinhard Ploss, Infineon CEO.