Austin chipmaker Cirrus Logic acquires Arizona company
Austin-based chipmaker Cirrus Logic said Tuesday that it has acquired Arizona-based Acoustic Technologies, a company that makes voice processing technology, including noise reduction, echo cancellation and voice enhancement.
A sizable portion of Cirrus Logic’s business is in the smartphone market. The company supplies Apple Inc., its largest customer, with audio-related chips, including some that can cancel out unwanted noise for phone users.
No financial details were given for the acquisition. Acoustic Technologies’ staff of about 30 will become Cirrus Logic employees, the company said.
“Acoustic Tech’s team of audio experts and their proven voice processing technologies are a welcome addition to Cirrus Logic’s arsenal,” said Jason Rhode, Cirrus Logic’s president and CEO. “We expect the combination of sophisticated voice-processing algorithms and Cirrus Logic’s market leading audio hardware to provide a very compelling value proposition for our customers.”
Cirrus Logic’s revenue was $155 million in its most recent quarter, according to securities filings.
Austin-based Active Power names new CEO
Austin-based Active Power said it has hired a former company executive as its new CEO.
Mark Ascolese replaces Ake Almgren, who was serving as interim CEO. Almgren took the role following the resignation of CEO Douglas Milner in July.
From 2000 to 2002, Ascolese was Active Power’s senior vice president of business development.
Most recently, he was CEO and then chairman of California-based Power Analytics Corp. He also served for more than 20 years in leadership roles at North Carolina-based Powerware Corp.
Founded in 1992, Active Power develops backup power systems.
Plans for New York Alamo Drafthouse abandoned
Alamo Drafthouse has scrapped plans for a theater on New York’s Upper West Side, the Austin-based company said Tuesday.
Founder Tim League had said last year that Alamo Drafthouse would take over the shuttered Metro Theater following extensive renovations, but he now says the project is “no longer financially viable” due primarily to increases in construction costs.
Several other new theaters will still open as planned, League said, including ones in New Braunfels; Kalamazoo, Mich.; and San Francisco.
Texas drops out of suit opposing American Airlines merger
Texas Attorney General Greg Abbott said Tuesday that the state has reached a settlement with American Airlines and US Airways that means Texas will pull out of a lawsuit trying to block the carriers’ merger.
“I’m proud to join today with American Airlines and US Airways to announce we have successfully negotiated a settlement,” Abbott said.
American Airlines promised in writing to do what it had already promised to do in public statements after US Airways and American announced the merger Feb. 14. The deal provides that American Airlines would commit to keeping daily service to 22 Texas communities for at least three years.
Also Tuesday, a judge ruled that the antitrust trial over the merger will go forward as scheduled. The Justice Department had asked for a delay to the Nov. 25 trial, arguing that the shutdown of the federal government meant its lawyers couldn’t work to get ready for the trial. The court order means the government attorneys have the authorization to keep working on the case.