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The company’s chief executive says they have targeted several areas for expansion.

German chipmaker Infineon is ready to spend several billion euros on the right takeover target, according to a report in Reuters. In speaking with the Frankfurter Allgemeiner Zeitung (FAZ), Infineon’s chief executive, Chief Executive Jochen Hanebeck, said: “there are a number of areas that we have defined and are actively looking at to further expand our portfolio.” Infineon enjoys a leading position in the semiconductor industry, Hanebeck said, but added, “nothing is so good that it cannot be improved.”

When it came to how much the company might spend on new acquisitions, Hanebeck replied, “I see it in the range of up to a few billion (euros).”

Having joined Infineon in 1994, Jochen Hanebeck was named CEO in 2021 and took his seat to replace the former chief executive Reinhard Ploss in April of 2022. his official term will last until April 2027. During his time at the top, Hanebeck plans to make acquisitions a priority. He warns, though, that any new expansion will have to fit the company’s current profile. “In addition to the strategic aspect, every addition must also suit us culturally and make financial sense”, he added.

Branching out into sensors, micro controllers and more

Some of the areas of interest include electromobility, autonomous driving, renewable energy, data centres, and the internet of things (IoT). That leads further to items like appliances, factory equipment and health monitors which are connected to the internet or other communications networks.

“So there is a whole range of fields that we have defined and where we are actively looking to further expand our portfolio,” Hanebeck told the FAZ. He also said that a certain normalization has occurred in the market valuation of the semiconductor industry, which could also influence their growth strategy. “It is quite conceivable that, for example, start-ups that are not sufficiently financed want to join a corporation”, he said.

In its fiscal year through September 2022, Infineon posted a rise in revenue by nearly 30% to 14.2 billion euros ($15.1 billion), Reuters reported. This while segment profit jumped 63% to 3.4 billion euros.