CREE Cree Inc

FRANKFURT—German chip maker Infineon Technologies AG is close to announcing the acquisition of Wolfspeed, a unit of Cree Inc. for roughly $850 million, according to people familiar with the matter. Infineon had no immediate comment.

Cree said last year it would separate and list Wolfspeed, based in North Carolina, on the stock market. The company makes semiconductor products for power and radio-frequency applications.

Friedrich Geiger contributed to this article.

Write to Eyk Henning at eyk.henning@wsj.com

(END) Dow Jones Newswires

July 14, 2016 06:35 ET (10:35 GMT)

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