Cy­press takes $10B buy­out

The News-Times - - BUSINESS -

Ger­many-based In­fi­neon reached a $10.1 bil­lion deal to ac­quire Cy­press Semi­con­duc­tor, founded in 1982 by for­mer Ad­vanced Mi­cro De­vices em­ploy­ees and based in San Jose, Calif. Cy­press makes chips for a wide range of de­vices from house­hold elec­tron­ics like wire­less speak­ers, to in­dus­trial sys­tems like ro­botic pro­duc­tion equip­ment on fac­tory floors. Cy­press sales were down 7 per­cent in the first quar­ter to $539 mil­lion, but with the com­pany more than dou­bling prof­its from a year ago to $19.7 mil­lion.

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