Within the framework of a management buy out (MBO), Infineon Technologies has turned over its activities in the area of wearable electronics to Interactive Wear of Wessling, Germany. Financial terms were not disclosed.
According to a statement, Infineon had conducted research on the integration of electronic functions into textiles and developed this technology to the point that it is ready for the market. Infineon has, however, discontinued these activities as part of its strategic restructuring and concentration on its core business.
As part of the MBO, the rights to Intellectual Property (IP), such as patents and licenses, now belong to Interactive Wear, along with developmental hardware and software and the existing customer base as well as the parts inventory and finished wearable electronics products.
“Thanks to the technological head start and network of partners that we acquired from Infineon, we see excellent market opportunities and developmental potential for our company,” commented Andreas Röpert, Interactive Wear’s CEO.
Röpert added that market appraisals from various analysts anticipate a market volume of up to $1 billion for technical textiles in 2008.