AES to buy IBM and Infineon JV firm

IBMCorp. and InfineonTechnologies have agreed to divest their shares in Altis Semiconductor via a sale to Switzerland-based Advanced Electronic Systems AG (AES). Terms of the agreement were not disclosed.

Altis, an Infineon and IBM joint venture since 1999, mainly manufactures semiconductorcomponents for communications, automotive and security applications in 250- to 130nm technologies. AES is a Swiss affiliate of Global Information Services (GIS), a Russia-based holding company.

Under the terms of the current understanding, AES will purchase the equity, which includes the real estate and technology assets of Altis from Infineon and IBM, and agreed to maintain the level of industrial activity in Altis. Infineon and IBM agreed to license key manufacturing process technologies to AES for use in Altis in the future. AES plans to use the Altis facility in France to manufacture European and Russian designed products and also has plans to open an IC design centerat the Altis location.

"We are committed to extending the customer portfolio as well as to licensing additional technologies from IBM and Infineon. We see this acquisitionas a natural process of the internationalization of hi-tech businesses, and we are looking forward to continuing the excellent cooperation with IBM and Infineon in implementing new technologies in Altis," said Alexander Kalinin, member of the GIS Board of Directors.

The acquisition is subject to regulatory approvals and work councils processes and is anticipated to close in Q4.