Cirrus Logic Inc. (Nasdaq: CRUS) has closed a $467 million deal for Wolfson Microelectronics, an audio company.
Wolfson, headquartered in Edinburgh, Scotland, provides semiconductor devices and audio services to the consumer electronics market. The company's technology is used in hi-fi equipment, smartphones, mobile phones, tablet computers, televisions and other products.
Cirrus Logic, headquartered in Austin, Texas, develops high-precision, analog and mixed-signal integrated circuits for the audio and energy markets.
The deal strengthens Cirrus Logic's core business in audio signal processing parts, enhances its product portfolio with software and adds products to the company's portfolio. The company is funding the deal with existing cash and $225 million in debt financing.
Harman International Industries Inc. (NYSE: HAR) has also made recent audio acquisitions, picking up audio-visual technology group AMX LLC for $365 million in May, following the company's 2013 purchase of IOnRoad Technologies Ltd.