Mergers & acquisitions
Under the terms of the modified agreement, Finisar will issue approximately 110min shares of Finisar common stock to Infineon compared to 135mn shares that would have been issuable under the original agreement. Following the transaction, Infineon will hold a 33% equity interest in Finisar. In addition, Infineon has agreed to provide financial assistance with respect to the costs of restructuring and integrating the operations into Finisar. The transfer includes some 1200 employees.
The transaction is subject to approval by Finisar's shareholders, applicable regulatory approvals and other customary closing conditions. The companies have already received the required antitrust clearances in the USA and Europe. The transaction is now expected to close in Q4 2004.
INTRINSIC Semiconductor, a manufacturer of wide bandgap materials, has acquired Advanced Micro Device Solutions (AMDS) in Sweden. AMDS, founded in 2001, is currently sampling radio frequency (RF), power and sensor components based on patented state-of-the-art silicon carbide (SiC) technology. AMDS will be renamed INTRINSIC Semiconductor AB, a wholly owned European subsidiary of INTRINSIC.
