Shares in Wolfson had previously dropped to the lowest possible level in 2 years this February after the British microchip firm posted significant losses. Intellectual property is also an important part of the product portfolio and this is a crucial aspect of the deal between the two companies. The bid also provides a positive reflection of the potential for Wolfson to grow and channelize its technology for a wide number of services. The revenue of this company also fell from $48.1 million in 2013 to just $28.8 million this year.Ĭirrus has also indicated that its offer has been backed by around 7% of the investors from Wolfson. Its previous year’s losses were around $ 2.8 million per year. It has incurred an underlying operation loss of $4.5 million which is considerable. Wolfson had also been experiencing business losses. This British firm has 420 employees in 12 locations across the globe. Together with Cirrus Logic, Wolfson wants to tap its immense potential. New products such as Wolfson’s successful microphones are ideal for Cirrus which is looking to expand and strengthen its portfolio. As per the agreement, this US handset maker will pay 235 pence per share deal for Wolfson. Misys was acquired by US based Vista Equity Partners. Autonomy was purchased by Hewlett-Packard. This company is one of many recent overseas acquisitions of British technology firms. Its recent acquisition came after it missed on a deal for manufacturing chips for a 4G version of the Samsung S4 smartphone. Wolfson is a firm based in Edinburgh which specialises in audio technology. Shares of the British microchip company are up by around 73%. The positive reactions of the market to news of this acquisition are obvious. Cirrus Buys Wolfson: A Lucrative Deal between Market RivalsĪmerican handset maker Cirrus Logic Inc is set to buy British company Wolfson Microelectronics Plc for around 291 million pounds.
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