Cirrus Logic buys Lion Semiconductor for switched capacitor power
Cirrus Logic is to buy California-based Lion Semiconductor for $335m in cash.
The deal gives Cirrus switched capacitor architectures and intellectual property for power applications in smartphones, laptops and other devices, contributing approximately $60m in revenue between deal closing this month and the end of FY22. Cirrus had revenues of $1.37bn in the last year, with a focus on smartphones. The technology is particularly suitable for the higher power USB-C extended power range (EPR) and wireless charging systems.
Lion, with 35 people in the US and Seoul, South Korea, had raised $33m since founding in 2012 and had a strategic deal with renesas Electronics in Japan.
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“The acquisition of Lion Semiconductor adds further momentum to our strategy of applying our mixed-signal expertise to new markets and driving growth through innovation in areas such as power,” said John Forsyth, CEO and president of Cirrus Logic. “Lion’s proprietary fast-charging products and robust intellectual property portfolio are expected to contribute meaningfully to revenue growth in the coming years, strengthen the company’s position to pursue exciting new opportunities and significantly expand our addressable market.”
“We are thrilled to become a part of Cirrus Logic’s remarkable team and culture,” said Lion’s Chief Executive Officer Wonyoung Kim. “Cirrus Logic excels in delivering advanced mixed-signal technologies to the industry’s most demanding customers. We believe our world-class charging technology and innovative switched-capacitor architectures will help put even more Cirrus Logic solutions at the heart of the world’s best battery-powered products.”
www.cirruslogic.com; www.lionsemiconductor.com
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