U.S. chip maker Cirrus Logic Inc is to purchase Wolfson Microelectronics Plc for an agreed 291 million pounds ($489 million) in cash, sending shares in the British company up more than 70 percent.Wolfson, an Edinburgh-based company which specialises in audio technology, had suffered in recent months after missing out on a deal to make chips for the 4G version of Samsung Electronics Co Ltd's Galaxy S4 smartphone.Wolfson becomes the latest in a series of British technology groups to be bought by overseas interests in recent years, after Autonomy was sold to Hewlett-Packard Co, CGI Group Inc bought Logica and Misys was acquired by U.S.-based private equity firm Vista Equity Partners.Cirrus, a supplier to Apple Inc, said the agreed 235 pence per share deal for its nearest rival would strengthen its portfolio and add new products such as Wolfson's successful microphones.
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL remained unchanged at $594.09. In the past year, the shares have traded as low as $388.87 and as high as $595.75. On average, 10465800 shares of AAPL exchange hands on a given day and today's volume is recorded at 133277.
Cirrus Logic, Inc. (Cirrus Logic) develops analog and mixed-signal integrated circuits (IC) for a broad range of consumer and industrial markets. Shares of CRUS remained unchanged at $22.01. In the past year, the shares have traded as low as $16.46 and as high as $25.91. On average, 1794520 shares of CRUS exchange hands on a given day and today's volume is recorded at 17058.
CGI Group Inc. (CGI) provides information technology (IT) consulting, systems integration, IT outsourcing and business solutions. Shares of GIB remained unchanged at $34.37. In the past year, the shares have traded as low as $28.31 and as high as $39.47. On average, 327732 shares of GIB exchange hands on a given day and today's volume is recorded at 0.
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