Cirrus Logic to acquire Wolfson Microelectronics Co., Ltd.

Beijing, China, May 5, 2014- Cirrus Logic (Nasdaq: CRUS) and Wolfson Microelectronics Limited (London Stock Exchange: WLF or WLF) , leading suppliers of high-precision analog and digital signal processing components L) It was jointly announced today that Cirrus Logic will acquire Wolfson Microelectronics Ltd. for £ 2.35 per share in cash. The enterprise value of Wolfson Microelectronics Ltd. is £ 278 million, or approximately $ 467 million. If approved, the transaction will strengthen Cirrus Logic ’s ability to expand its customer base with a highly differentiated, end-to-end audio solution for portable audio applications. The transaction will be completed through a combination of Cirrus Logic ’s existing cash and debt financing of $ 225 million.

Mr. Jason Rhode, President and Chief Executive Officer of Cirrus Logic, said: "Ossen has a long history of audio innovation, a wide range of audio products and a number of first-tier customers. This acquisition strengthens Cirrus Logic's leadership as an audio signal processing component The core business of the author has improved our ability to differentiate between products and software, and added new products like MEMS microphones to our product portfolio. "

Mr. Michael Ruettger, Chairman of the Board of Wolfson Microelectronics, said: "The Wolfson Board of Directors considers this transaction attractive to Wolfson shareholders. We believe this also reflects Mike Hickey and his team building Wolfson into the consumer electronics market The hard work of leading high-performance audio hub products and MEMS microphone suppliers. Together with Cirrus Logic, we believe that mergers and acquisitions will create a strong platform for future growth that exceeds our individual potential. "

The acquisition is expected to be completed in the second half of 2014. Cirrus Logic expects the acquisition to increase non-GAAP earnings per share in the first quarter after the transaction closes (excluding the impact of one-time integration and merger-related costs). The transaction is subject to regulatory approval and the approval of Wolfson shareholders.

About Cirrus Logic

Cirrus Logic is committed to developing high-precision, analog, and mixed-signal integrated circuit products for a wide range of innovative markets. Based on its wide variety of analog mixed-signal patented products, Cirrus Logic provides optimized products for a variety of audio and energy-related applications. The company is headquartered in Austin, Texas, and has branches in Europe, Japan, and other Asian countries.

About Ousheng Microelectronics Co., Ltd.

Wolfson Microelectronics is a global leader in providing high-performance mixed-signal semiconductor devices and audio solutions for the consumer electronics market. Whether at home, office or mobile, Wolfson Microelectronics ’innovative technologies are found everywhere in the world ’s leading digital consumer electronics products, including high-fidelity audio equipment, smart phones, mobile phones, tablets, MP3 players, TVs, digital cameras And games. The headquarter of Wolfson is located in Edinburgh, United Kingdom. Wolfson customers are located all over the world, as well as design centers, sales, application and engineering design teams located in Europe, the United States, Australia and Asia.

Cirrus Logic, Cirrus, and Cirrus Logic logo design are registered trademarks of Cirrus Logic Corporation. The names of other products involved in this article belong to related companies.

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