Infineon Technologies AG acquires International Rectifier Corporation

     Infineon Technologies AG announced the completion of the acquisition of International Rectifier Corporation of the United States. With the approval of all necessary regulatory authorities and the shareholders of International Rectifier, as of today International Rectifier, headquartered in El Segundo, is a company of Infineon.

     Dr. Reinhard Ploss, Chief Executive Officer of Infineon, said: "The acquisition of International Rectifier is an important step for Infineon to strengthen its leading position in the global market for power semiconductors. We are confident that International Rectifier and its employees will greatly contribute to a win-win situation for both companies." The acquisition will enhance the competitiveness of both companies. With an unrivalled product portfolio and a deep understanding of our customers' needs, we are able to offer our customers the most appropriate and competitive solutions. This acquisition will help us accelerate our transition from product thinking to system insight."

     Upon completion of the acquisition, the company will be led by Reinhard Ploss, Chief Executive Officer, along with Arunjai Mittal, member of the Regional Sales, Marketing, Strategic Planning and M&A Management Committee, and Dominik Asam, Chief Financial Officer. Robert LeFort is President of International Rectifier Corporation and President of Infineon North America.

     International Rectifier Company and Infineon complement each other. Following the acquisition, Infineon's product portfolio will become richer and its business footprint will be expanded, with many small and medium-sized enterprises in the United States and Asia becoming its customers. The acquisition will bring additional power management system know-how to Infineon, further strengthening its expertise in power semiconductors and integrating advanced knowledge in compound semiconductors (gallium nitride). In addition, the acquisition will also greatly promote Infineon to achieve economies of scale in production and enhance competitiveness.