On July 8, local time, Cirrus Logic issued a press release announcing the acquisition of California-based Lion semiconductor for $335 million in cash.
Cirrus Logic said the acquisition brings unique intellectual property and products to power applications in smartphones, laptops and other devices and accelerates the growth of the company’s high-performance mixed-signal business. Lion is expected to be immediately accretive to GAAP and non-GAAP EPS, contributing approximately $60 million in revenue between the closing of the transaction and the end of FY22.
△Source: Cirrus Logic
The boards of directors of both parties have approved the transaction, which is expected to close within 30 days, subject to customary closing conditions.
According to data, Cirrus Logic was founded in 1984 and is located in Austin, Texas. It is a low-power, high-precision mixed-signal processing solution manufacturer. In 2014, Cirrus Logic acquired Wolfson Microelectronics, headquartered in Edinburgh, Scotland, and became the world’s largest manufacturer of mixed-signal processing solutions. It is the largest audio solution provider in the world and extends its products and customers to the field of mobile communication and mobile entertainment.
Cirrus Logic holds more than 3,670 issued and pending patents worldwide for products including smart codecs, audio digital signal processors (DSPs), boost amplifiers, haptic and sensing integrated circuits, analog-to-digital converters (ADCs) , digital-to-analog converters (DAC), etc., are widely used in smart phones, tablet computers, digital headphones, wearable devices, Bluetooth speakers and smart home accessories.
Operating primarily in San Francisco, USA and Seoul, South Korea, Lion Semiconductor’s switched capacitor architecture enables an excellent wired and wireless fast charging user experience, and is used today in many flagship and mid-range smartphones.
“The acquisition of Lion Semiconductor furthers our strategy of applying mixed-signal expertise to new markets and driving growth through innovation in areas such as power,” said John Forsyth, president and CEO of Cirrus Logic. )