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Slide #38. Cirrus Logic — Wolfson Microelectronics
Cirrus Logic (NASDAQ:CRUS)
Cirrus Logic, Inc. (NASDAQ : CRUS) and Wolfson Microelectronics plc (LSE : WLF or WLF.L) today announced the terms of a recommended transaction under which Cirrus Logic would acquire Wolfson at a price of 2.35 per share in cash, implying an enterprise value of 278 million, or approximately $467 million. The transaction, if approved, is expected to strengthen Cirrus Logic's ability to expand its customer base with highly differentiated, end-to-end audio solutions for portable audio applications. The transaction will be financed by a combination of existing cash on Cirrus Logic's balance sheet and $225 million in debt funding.
Cirrus Logic is engaged in mixed-signal processing solutions. Co. has the following product lines: Portable Products, including codecs, which are chips that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC), smart codecs, which are codecs with digital signal processing integrated, amplifiers, haptic and sensing solutions, as well as standalone digital signal processors, and its SoundClear® technology, which consists of a portfolio of tools, software and algorithms; and Non-Portable and Other Products, which include ICs, codecs, ADCs, DACs, digital interfaces and amplifiers.
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