MALVERN, Pa., Jun 27, 2001 -- Vishay Intertechnology, Inc. (NYSE: VSH) and Infineon Technologies AG, Munich (FSE/MYSE: IFX), today announced that Vishay has agreed to acquire Infineon's entire infrared components business, subject to certain governmental approvals, for approximately US$120 million. Under the terms of the agreement Vishay will take over Infineon's development, marketing and distribution activities located in the San Jose, California headquarters and a production facility in Krubong, Malaysia. In fiscal year 2000 Infineon's infrared components business posted revenues of approximately US$133 million. The sale is expected to be completed by end July 2001.
Dr. Felix Zandman, Chairman and CEO of Vishay stated: "This acquisition will enable Vishay to significantly strengthen its current position in Optoelectronics and specifically in the growing Infrared Components portion of that market. Infrared components are used primarily as optical interfaces in a broad array of electronic devices including PC's, cell phones, PDAs, industrial automation systems, set-top boxes, voice/data switching and data transmission equipment. The products included in the acquisition are optocouplers and solid state relays, IrDT (Infrared Data Transmission) modules, DAA (Data Access Arrangements) kits and custom opto modules."
About Vishay
Vishay, a Fortune 1,000 Company with year 2000 sales of US$2.5 billion, is the largest U.S. and European manufacturer of passive electronic components (resistors, capacitors, inductors) and a major producer of discrete semiconductors (diodes, optoelectronics, transistors), IrCDs (infrared communication devices), and power and analog switching integrated circuits. The Company's components can be found in products manufactured in a very broad range of industries worldwide. With headquarters in Malvern, Pennsylvania, Vishay employs over 20,000 people in 66 facilities in the U.S., Mexico, Germany, Austria, the United Kingdom, France, Portugal, the Czech Republic, Hungary, Israel, Taiwan, China and the Philippines. Vishay can be found on the Internet at www.vishay.com.