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Byline: Joshua Jaffe
LONDON--Who says R&D-driven technology acquisitions are dead?
Infineon Technologies AG, Germany's largest chip company, signed a definitive agreement Monday to acquire Silicon Valley fabless semiconductor startup Catamaran Communications Inc. for up to $250 million in stock.
Infineon's deal for the pre-revenue startup contradicts the passivity recently adopted by chipmakers such as Broadcom Corp. and PMC-Sierra Inc., in response to investors' preference for profits over growth.
One analyst said Infineon can buck the industry trend of avoiding unproven Silicon Valley startups because the company's stock price has not …