Although German semiconductor manufacturer Infineon is well and truly in the money, its top execs say that it won’t go shopping – because there aren’t many attractive options for investments or acquisitions in the market right now.
While other chipmakers like to farm assets where possible, Infineon’s top dog for Industrial and Multimarkets, speaking to Bloomberg, outright dismissed the industry as it stands. “We want technology and intellectual property that is complementary to our own and these companies aren’t very exxciting investments,” Arunjai Mittal told Bloomberg.
Infineon is doing well, particularly in power semiconductors, and is sitting on a wad of cash Intel handed over for its wireless mobile chip division. Its last quarterly results grew five percent from the previous quarter, compared to many dismal performances in the industry overall.
Mittal went on to say companies are often misguided with their purchases, buying for the sake of it instead of figuring out the true worth investment can bring to the table.
Last December we reported that Infineon was performing decently thanks to “alternative” chip industries, including for the automotive and machinery sector. Bauer said security controllers are an important point of focus.
Its CEO in Bauer has gone on the record to say power conversion and management chips are where the money is at and where investment should go, but clearly nothing is interesting Mittal too much right now.