There are no News articles on WLFMF.
Tue, Apr. 29, 7:53 AM
- Cirrus Logic (CRUS) is buying British rival Wolfson Microelectronics (WLFMF) for £2.35/share, or £278M ($467M), in cash. The price represents a 75% premium to Wolfson's Monday close in London
- Like Cirrus, Wolfson offers audio codec, amplifier, converter, and power management chips. The company also sells MEMS microphones (InvenSense recently entered this growing market), HD audio software (Cirrus thinks it could help differentiate its own products), noise cancellation chips, and several other audio products.
- Also like Cirrus, Wolfson has had its chips designed into Apple hardware. But with the company nowhere as Apple-dependent as Cirrus, the acquisition represents a fresh attempt to diversify away from its top client.
- Cirrus expects to close the deal in 2H14, and for it to be accretive in its first full quarter after closing.
- The acquisition could have implications for voice processor/audio codec developer Audience (ADNC), which competes to an extent against both Cirrus and Wolfson. Cirrus bought voice-processing tech developer Acoustic Technologies last October.
There are no StockTalks on this stock yet.
WLFMF vs. ETF Alternatives
Other News & PR