LONDON IBM Corp. and Infineon Technologies AG, have said they have agreed to divest their shares in Altis Semiconductor SA with its manufacturing site in Corbeil-Essonnes, France, via a sale to Advanced Electronic Systems AG (Zurich, Switzerland).
Advanced Electronic Systems (AES) is a Swiss affiliate of GIS (Global Information Services), a Russia-based holding company with offices in Moscow and Miami.
Terms of the agreement, which are subject to governmental and regulatory approval and works council consultation, were not disclosed.
Altis, an Infineon and IBM joint venture since 1999, manufactures semiconductor components mainly for communications, automotive and security applications in 250 to 130 nanometer technologies.
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 AES has agreed to maintain the level of industrial activity at Altis. Infineon and IBM have agreed to license certain manufacturing process technologies to AES for use by Altis in the future.
AES plans to use the Altis facility to manufacture European and Russian designed products and AES also has plans to open a semiconductor design center at the Altis location, according to a statement issued by Infineon.
"We are very pleased to acquire a state-of-the-art manufacturing site with Altisí history and experience," said Alexander Kalinin, member of the GIS board of directors, in the same statement. "The expertise and skills of the Altis employees are an asset as is the supply agreement with Infineon. We are committed to extending the customer portfolio as well as to licensing additional technologies from IBM and Infineon. We see this acquisition as 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."
The acquisition is subject to regulatory approvals and work councils processes and is anticipated to close in the fourth quarter of calendar year 2007.
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