In an interview published on Wednesday, Infineon Chief Executive Jochen Hanebeck said that the chipmaking giant is ready to spend several billion euros on the right takeover target as it searches for acquisitions to boost growth.
Hanebeck told Frankfurter Allgemeine Zeitung (FAZ) said that the German chip maker is constantly “on the lookout” for suitable companies. He further said, “I see it in the range of up to a few billion (euros).”
The plans come at a time when demand for chips used in everything from smartphones to cars is on peak and supply chain bottlenecks lasting almost two years have plagued global industries from autos to healthcare and telecoms.
Infineon, which reportedly had a 63% jump in segment profit to 3.4 billion euros ($3.6 billion) in the fiscal year that ended Sept. 30, has said it sees growth specifically in sectors such as electromobility, autonomous driving, renewable energy, data centres, and the so-called internet of things.
According to the newspaper, the CEO would not comment on individual takeover candidates. Hanebeck said that the company could further its portfolio in several fields, including power semiconductors, sensors, software and artificial intelligence.
