Westlake Village, CA -- November 20, 2000 -- Infineon Technologies AG has selected Need2Buy as an e-commerce partner. In conjunction with this relationship, Infineon acquired a minority stake in the company and will be represented on the company's board of advisors.
Infineon plans to utilize Need2Buy's e-marketplace solution to enhance efficiencies in working with its distributors and customers.
Headquartered in Munich, Germany, Infineon Technologies provides semiconductor system solutions for the wireless and wireline communications markets; automotive and industrial sectors; and for use in security systems, chip cards as well as memory products. Revenues in fiscal year 2000 (ended in September) were US $6.3 billion. The company operates state-of-the-art manufacturing facilities in the U.S., Europe and Asia.
Need2Buy's announcement of its new relationship with Infineon closely follows two other significant announcements in the company's globalization efforts. In October, the company announced that World Peace Industrial (WPI), the largest component distributor in the Asia-Pacific region, joined Need2Buy's alliance with Mitsubishi Corporation to develop an e-commerce solution for the Asian components market. Need2Buy also acquired Unimate Electronics GmbH, a component trading and fulfillment company based in Munich.