MUNICH, Germany -- It has been revealed that Infineon Technologies AG took a 20 percent stake in NewLogic Technologies AG, an Austrian start-up company that has achieved success as a supplier of intellectual property (IP) cores and design services in the areas of Bluetooth and wireless LAN standards, back in 1999.
Sources at NewLogic confirmed that Infineon had acquired a stake in the company and has a representative on the board of directors, but declined to say how much Infineon had paid for its stake.
"When NewLogic goes for its IPO [initial public offering of shares in the company] we will have to say everything," one source said.
Lustenau-based NewLogic has followed a classic start-up progress achieving design wins and intellectual property licenses with multiple companies, including Infineon (see March 7, 2002, story), but its route to an IPO was blocke d in 2002 due to difficult market conditions.
According to a source, NewLogic has been ready for an IPO since some time in 2002 but the market conditions forced the company to hold off. "We are prepared but not committed. We will wait until the conditions are right," the source said.
NewLogic recently announced a research center for fourth generation communications technology in Munich, Infineon's historical home town, a further step in bonding the two companies together (see March 13 story).