SAN FRANCISCO Privately held Magnum Semiconductor Inc. has completed its acquisition of Cirrus Logic Inc.'s digital video product line assets, Cirrus Logic said Thursday (June 30). The transaction was originally announced in May.
The transaction is structured as an asset sale, with Cirrus Logic (Austin, Texas) retaining a minority equity ownership position in Magnum Semiconductor.
Cirrus Logic said selling these assets is part of a company-wide focus on core analog, mixed-signal and embedded IC product lines for audio and industrial markets.
Magnum Semiconductor was formed by an investment group led by Investcorp and August Capital.