Cirrus Logic Buys Wolfson Microelectronics

Austin-based Cirrus Logic said late last night that it has acquired Scotland's Wolfson Microelectronics plc, in a deal worth approximately $467M. According to Cirrus Logic, it will fund the deal with cash on its balance sheet, plus a new $225M in debt funding. Wolfson Microelectronics is a developer of audio semiconductors and other related products. Cirrus Logic said the buy will bolster its business in the audio signal processing industry.