Cirrus buys Apex for $42 million

SAN JOSE, Calif. — Cirrus Logic Inc. has signed a definitive agreement to acquire Apex Microtechnology, a provider of precision high-power analog amplifier products, for $42 million in cash.

Founded in 1980 with headquarters in Tucson, Ariz., Apex makes integrated circuits, hybrids and modules used in a wide range of industrial and aerospace applications. Its precision amplifiers are used for driving motors, piezo electrics, programmable power supplies and other devices requiring high power and precision control.

Apex employs approximately 90 people. Apex generated revenue of approximately $4 million to $5 million per quarter during the past year.