Infineon, a German semiconductor giant, on Tuesday announced that it had finalized its purchase of El Segundo power management technology company International Rectifier. The deal, which was for about $3 billion, was announced Aug. 20.

“The acquisition of International Rectifier is an important step for Infineon to foster our position as a global market leader in power semiconductors,” Dr. Reinhard Ploss, Infineon’s chief executive, said in a press release. “We are sure that International Rectifier and its employees will make a great contribution to a joint successful future. Together both companies make a powerful combination.”

Infineon has nearly 30,000 employees and earned revenue of about $4.9 billion in its most recent fiscal year. International Rectifier, with about 4,200 employees, had $1.1 billion in annual revenue during its last fiscal year.

The deal is one of a handful of multi-billion dollar acquisitions of local companies announced in 2014 and expected to close this year. Others include Dallas telecom giant AT&T’s planned purchased of El Segundo satellite TV provider DirecTV and Livingston, N.J., lender CIT Group Inc.’s planned acquisition of Pasadena’s OneWest Bank.