AUSTIN, Tex.--Cirrus Logic Inc. here today announced it will acquire LuxSonor Semiconductors Inc., a supplier of DVD video processors and audio/video chips, for approximately $65 million in stock.
LuxSonor, based in Fremont, Calif., is focused on high-performance analog chips and digital signal processors for consumer entertainment electronics. The acquisition is expected to strengthen Cirrus' offering for next-generation, Internet-ready DVD players and networked entertainment systems, and extends its reach in Asia and China, said David D. French, president and CEO of the Austin-based company.
The acquisition has been approved by the boards of both companies and is expected to close in August, following regulatory approvals. The deal will to be accretive to pro forma EPS by the end of this fiscal year, according to Cirrus.
Privately-held LuxSonor has about 100 employees, with branch offices in Taiwan, Hong Kong and Shenzhen, China. Once the purchase is completed, LuxSonor will become an operating unit within the Crystal product division of Cirrus Logic.
Last year, Cirrus Logic acquired a limited license to some of LuxSonor's DVD decoder technology. LuxSonor's intellectual property includes state-of-the-art RISC processors, DSPs, and video and audio compression and decompression technology. Its current product lines include ICs for CD-based MP3/WMA decoding, VideoCD, Super VideoCD, DVD, and ICs for Internet appliance products.