MUNICH, Germany — Chip maker Infineon has completed the sale of its wireline business to investor Golden Gate Capital. The unit sold now operates under the name Lantiq — and claims to be the number 15 in the fabless semiconductor companies ranking.

Ironically, the move turns Infineon a foundry company in a certain sense: Lantiq will continue to its products through its former parent company. However, production of most devices for Infineon's wireline business have already been outsourced to manufacturing partners UMC, Chartered Semiconductor, TSMC and others a company spokesperson declined to identify. Some parts will be manufactured also by Infineon, a company spokesperson said.

Lantiq with about 900 employees also will continue to share its headquarters with Infineon. Both companies reside on an ample campus (dubbed Campeon) just out of Munich. Lantiq CEO is Christian Wolff who already headed the unit when it was part of Infineon.

The new owner will pay for the assets acquired €243 million (about $362 million), slightly below the value announced earlier (in euros). The amount will be booked in Infineon's first quarter and thus not affect the Q4 results due November 19.

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