The fast charge IC product brought by the acquisition will expand the company's high-performance hybrid signal combination

Austin, Texas, USA, July 9, 2021:Cirrus logic(NASDAQ Code: CRUS) Recently announced that an agreement has reached a $ 330 million in cash, Lion Semiconductor, California, USA. This acquisition is intelligentMobile phoneThe power applications of laptops and other devices have brought unique intellectual property and products and accelerated the growth of the company's high-performance mixed signal business. It is expected that Lion Semiconductor will immediately increase GAAP and non-GAAP earnings, from the end of the transaction to contribute about $ 60 million in income between 2022 fiscal year.

Cirrus logic John Forsyth, President and CEO, said: "Acquisition of Lion Semiconductor will further promote us to apply mixed signal expertise to new markets, and promote growth in new markets through power supplies. LON SEMICONDUCTOR special fast charge products and powerful Intellectual property portfolio is expected to make sense to contribute to income growth in the next few years, strengthen Cirrus Logic to explore the status of exciting new opportunities and significantly expand our target market. "

Lion Semiconductor CEO WONYOUNG KIM said: "We are very happy to become Cirrus logicA member of the team and culture. Cirrus logic is good at providing the most demanding customers requiring the most demanding mixed signal technology. We believe that our world-class charging technologies and innovative switch capacitors help to put more Cirrus logic solutions in the world's bestbatteryThe core of the power supply. "

Lion Semiconductor's switch capacitive architecture enables excellent wired and wireless fast charge user experience, which has been intelligent in many flagship and mid-end intelligence.Mobile phoneIt is used in use. These solutions are close tobatteryIntegrate, providing higher efficiency and better heat dissipation for rapidly developing fast charged markets. Founded in 2012, Lion Semiconductor has operators in San Francisco and Seoul Seoul.

Trading detail:

· Cirrus logicPay $ 335 million in cash

· The transaction completed by the 2022 fiscal year's contribution is expected to be $ 60 million

· Marriotic expected to support corporate profit margins

· It is expected to increase GAAP and non-GAAP earnings per share now

· The board of directors of the two companies have ratified the transaction, and it is expected to be completed within 30 days, but must abide by the customary transaction conditions.

onCirrus logicthe company

Cirrus logicIt is a leader in low power, high-precision hybrid signal processing solutions, dedicated to create innovative user experience for the world's top mobile and consumer applications. Cirrus Logic is headquartered in Austin, USA, and has a worldwide with its award-winning corporate culture. For more information, please visit the websiteWww.cirrus.com.