Infineon agreed to acquire the non-optical sensor business from AMS-Osram in a strategic carve-out. For AMS-Osram, this divestment marks a definitive pivot towards becoming a pure-play "Digital Photonics" leader, shedding non-core assets to focus entirely on optical semiconductors (LEDs, lasers, optical sensors). For Infineon, the acquisition strengthens its technological footprint in high-precision sensing without the burden of acquiring additional factories. The deal is structured as a "fabless" asset transfer: Infineon acquires the intellectual property, customer contracts, and R&D teams, but has signed a long-term supply agreement for AMS-Osram to continue manufacturing the wafers as a foundry service.

AMS-OSRAM (NON-OPTICAL SENSOR DIVISION), which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 13.6x average currently observed in the TMT (Tech, Media, Telecom) sector.

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