By Robb M. Stewart

Infineon Technologies AG said Thursday it has signed a definitive agreement worth $830 million to buy GaN Systems Inc., a Canadian technology company developing gallium nitride-based solutions for power conversion.

The all-cash deal to acquire Ottawa-based GaN Systems will be funded from existing liquidity, Infineon said.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

March 02, 2023 14:30 ET (19:30 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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