Cirrus Logic completes Wolfson Microelectronics takeover
Texan firm Cirrus Logic has announced it has completed its takeover of one of Scotland's leading technology companies, Wolfson Microelectronics.
The deal, which was recommended by Wolfson shareholders in April, valued the audio microchip maker at £291m.
Its components are used in a range of consumer products including Samsung Galaxy smartphones and tablets.
Cirrus said it believed the acquisition would strengthen its market position in end-to-end signal processing solutions.
Cirrus president and chief executive Jason Rhode said: "Wolfson has a rich history of audio innovation, a broad catalogue of audio products and a first-class customer list.
"This acquisition strengthens Cirrus Logic's core business as a leader in audio signal processing components, enhances our ability to differentiate our products with software, and adds new product categories such as MEMS microphones to our portfolio."