Infineon Technologies AG IFNNFIFNNY looks to spend several billion euros on the right takeover target as it hunted for acquisitions, CEO Jochen Hanebeck said in a newspaper interview.
Infineon constantly looks for suitable companies in the range of up to a few billion (euros), Reuters reports citing the CEO.
The German chipmaker sees growth in electromobility, autonomous driving, renewable energy, data centers, and the so-called internet of things, which help connect items like appliances, factory equipment, and health monitors to the internet or other communications networks.
In FY22, Infineon posted revenue growth of 30% to €14.2 billion ($15.1 billion), while segment profit jumped 63% to €3.4 billion.
Inadequately financed start-ups would probably want to join a corporation, Hanebeck said.
Hanebeck said the company could expand its portfolio in several fields, including power semiconductors, sensors, software, and artificial intelligence.
Price Action: IFNNY shares closed lower by 0.95% at $30.17 on Tuesday.
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