Infineon CEO: the company is ready to spend billions of euros on the acquisition

CTOnews.com, December 28 (Xinhua)-- German chipmaker Infineon CEO Jochen Hanebeck said in an interview released on Wednesday that the company is prepared to spend billions of euros to find suitable acquisition targets, Reuters reported.

Hanebeck noted that Infineon had been "looking for" the right company and said he thought "the figure could be as high as several billion euros". According to reports, Infineon has seen growth in electric vehicles, self-driving, renewable energy, data centers and the Internet of things.

CTOnews.com learned that Infineon's revenue rose nearly 30 per cent to 14.2 billion euros (about 105.222 billion yuan) and division profits rose 63 per cent to 3.4 billion euros (about 25.194 billion yuan) in the fiscal year to September 2022.

In addition, Hanebeck says it is conceivable that underfunded startups would want to join a company. But the chief executive will not comment on individual acquisition candidates.