Cirrus Logic acquires Arizona company

Oct 2, 2013
Austin Business Journal

Chipmaker Cirrus Logic Inc. has acquired Arizona-based Acoustic Technologies Inc.


Acoustic Technologies, founded in 1998, develops embedded firmware voice processing technology, including noise reduction, echo cancellation and voice enhancement. The company employs 30 workers who have been hired by Cirrus Logic, officials said Tuesday


Austin-based Cirrus Logic (Nasdaq: CRUS), founded in 1984, develops integrated circuits for products such as smartphones, tablets and other electronic devices. It employs about 652 workers


In July, the company posted a first-quarter profit of $20.6 million on revenue of $155.1 million compared with a profit of $6.9 million on revenue of $99 million during the same period last year


An April lawsuit accused company executives and board members of dumping millions of dollars worth of stock last year before it was disclosed that the company had increased its dependence on Apple Inc. (Nasdaq: AAPL) as a customer. The lawsuit indicates that 91 percent of Cirrus Logic’s sales were based on Apple products during the third quarter of fiscal 2013


The company — one of Austin's largest employers — is also in the process of expanding its new downtown headquarters


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