Cirrus Logic has signed a definitive agreement to acquire Apex Microtechnology for $42 million in cash. Cirrus Logic anticipates the acquisition to close by the end of August. Apex Microtechnology products will continue to be marketed under the Apex brand.
"Apex Microtechnology's proven success and diversified customer base gives Cirrus Logic the expertise to expand into high-power industrial markets,” said Jason Rhode, president and chief executive officer, Cirrus Logic. "Combining Cirrus Logic's signal processing and IC design skills with Apex's expertise in power drivers and amplifiers will allow us to introduce precision power products with higher levels of integration and functionality.”