January 28, 2004 – Infineon Technologies AG plans to buy ADMtec Inc., a Taiwanese fabless chip design firm for the broadband and networking markets, for about $75 million in cash, and an additional $25 million if unspecified “performance and development milestones” are met within two years.
The new company, Infineon-ADMtec Co. Ltd., headquartered in Hsinchu, is Infineon’s first acquisition of a controlling stake in an Asian semiconductor company.
The purchase is expected to be completed in April 2004 pending shareholder and regulator approval.