- July 9, 2021
- Posted by: Stratford Team
- Category: Business
AUSTIN, Texas–(BUSINESS WIRE)–Cirrus Logic, Inc. (Nasdaq: CRUS) today announced that it has entered into an agreement to acquire California-based Lion Semiconductor for $335 million in cash. This acquisition brings unique intellectual property and products for power applications in smartphones, laptops and other devices and accelerates growth of the company’s high-performance mixed-signal business. Lion is expected to be immediately accretive to GAAP and non-GAAP earnings per share, contributing approximately $60 million in revenue between deal close and the end of FY22.
“The acquisition of Lion Semiconductor adds further momentum to our strategy of applying our mixed-signal expertise to new markets and driving growth through innovation in areas such as power,” said Cirrus Logic President and Chief Executive Officer John Forsyth. “Lion’s proprietary fast-charging products and robust intellectual property portfolio are expected to…