Winbond to Acquire Infineon’s NOR Flash Business
According to Winbond Electronics, the company announced on September 16 that it has signed a share purchase agreement with Infineon Technologies LLC to acquire 100% of the equity interest in a target company under Infineon Technologies. The transaction covers Infineon’s NOR Flash and related memory business.
The acquisition will be conducted entirely in cash, with a base transaction value of approximately $1.12 billion, equivalent to about RMB 7.51 billion. The transaction is expected to be completed in the second half of 2027, subject to the satisfaction of applicable closing conditions. Following completion, the target company will operate under the name “Spansion,” reviving the brand and continuing its technological and industry legacy.
Winbond said the acquisition will expand its global research and development resources, production capabilities, and customer service capacity. The transaction will also bring together specialized talent from more than 10 countries and strengthen the company’s connections with global supply chain partners, supporting its broader expansion in the worldwide memory market.
The target company is headquartered in San Jose, California, and has more than 30 years of experience in memory solutions. It offers a diversified product portfolio and an established customer base. After the acquisition, the company is expected to maintain its existing operating model and continue to operate independently, with the United States remaining its headquarters.
Spansion Brand to Be Revived
A notable aspect of the transaction is Winbond’s plan to revive the Spansion brand. Once the acquisition is completed, the target company will adopt Spansion as its corporate name and trademark.
Spansion was previously a major player in the global NOR Flash memory industry. In 2014, it was acquired by Cypress Semiconductor. In 2020, Cypress was acquired by Infineon Technologies in a transaction valued at €10 billion. Over the years, the Spansion business accumulated technological expertise and innovations in the memory sector, with related products continuing to carry the Spansion or Cypress names.
Winbond said it is pleased to continue the technology and industry legacy under the Spansion name. The move is intended not only to expand Winbond’s product portfolio and market presence, but also to carry forward the existing brand, technology, and customer assets.
Transaction Expected to Close in 2027
Winbond emphasized that the base transaction price is $1.12 billion. The final transaction value will be adjusted before closing in accordance with the conditions stipulated in the share purchase agreement.
The transaction is currently expected to close in the second half of 2027. However, completion remains subject to various closing conditions, including obtaining the necessary regulatory approvals.
Once the transaction is completed, Winbond will directly or indirectly hold 100% of the equity interest in the target company, further expanding its presence in the global NOR Flash and memory markets.
