Cirrus Logic Completes Acquisition Of Wolfson Microelectronics

(RTTNews) - Cirrus Logic, Inc. (CRUS) said THursday that it has completed its acquisition of Wolfson Microelectronics Plc.

In late April, Cirrus Logic agreed to buy Wolfson Microelectronics for 235 pence per share in cash. The acquisition valued the entire issued and to be issued ordinary share capital of Wolfson at 291 million pounds or $488 million. The acquisition implied an enterprise value of Wolfson of 278 million pounds.

Cirrus Logic believes that the acquisition will strengthen its position as a market leader with a highly differentiated global customer base and end-to-end signal processing solutions, including integrated circuits and software for portable audio applications.