AES plans Altis investment

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IBM and Infineon Technologies have agreed in principle to divest their shares in Altis Semiconductor to Advanced Electronic Systems (AES).

Terms of the agreement, which are subject to governmental and regulatory approval and works council consultation, were not disclosed.

Advanced Electronic Systems, located in Zurich, Switzerland, is a Swiss affiliate of GIS (Global Information Services), a Russian-based holding company.

Altis, an Infineon and IBM joint venture since 1999, mainly manufactures semiconductor components for communications, automotive and security applications in 250 to 130 nanometre technologies. Its manufacturing site is in Corbeil-Essonnes, France.

Under the terms of the current understanding, AES will purchase the equity, which includes the real estate and technology assets of Altis, and will maintain industrial activity in the company.

Infineon and IBM have agreed to license key manufacturing process technologies to AES for use in 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 centre at the Altis location.

The acquisition is expected to close in the fourth quarter of calendar year 2007.