Silicon Labs completes acquisition of Cygnal

By siliconindia staff writer   |   Wednesday, 17 December 2003, 08:00 Hrs
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AUSTIN: Silicon Laboratories Inc. has announced it has completed the acquisition of privately held Cygnal Integrated Products, an Austin-based innovator of analog-intensive, highly integrated 8-bit microcontrollers (MCUs).

Cygnal's portfolio of more than 50 general-purpose products will add breadth and diversity to Silicon Laboratories' existing product line of high-performance, application-specific mixed-signal ICs.

In connection with the acquisition, Silicon Laboratories issued approximately 1.2 million shares of common stock in exchange for all outstanding shares of Cygnal capital stock. Up to approximately 1.3 million additional shares of Silicon Laboratories common stock will be reserved for future issuance to the shareholders of Cygnal based on the achievement of certain revenue milestones following the closing of the transaction.

"This acquisition allows Silicon Laboratories to address the intersection between the 8-bit MCU market and the high-performance analog market, which we believe is a multi-billion dollar market opportunity," said Dan Artusi, president and chief operating officer of Silicon Laboratories. "The strong analog-intensive, mixed-signal nature of the MCU product family complements our existing product lines while broadening the applications we serve. With a synergistic sales channel and supply chain, we intend to hit the ground running with the newest addition to Silicon Labs broadening product portfolio."

Cygnal will be relocated to Silicon Laboratories' facilities in Austin before year-end, and its products will be sold under the Silicon Laboratories name. Silicon Laboratories will continue to support and invest in Cygnal's complete portfolio of MCU products.

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