Cirrus Logic Inc. today announced that it has signed a definitive agreement to acquire ShareWave Inc., a maker of wireless home networking products.

ShareWave's Whitecap technology, which is based on IEEE 802.11 standards, is a wireless LAN (WLAN) solution capable of seamlessly sharing high-quality audio and video entertainment throughout the home, Cirrus said.

"This acquisition significantly strengthens the connectivity segment of Cirrus Logic's vision, which is to provide semiconductor solutions that allow people to hear, see, connect and enjoy digital entertainment," the company said.

Cirrus Logic will pay an estimated $92 million for ShareWave in this stock-for-stock transaction. The acquisition has been approved by the boards of directors of both companies and is expected to close in August following customary regulatory approvals. Based on Cirrus Logic's current forecasts, it is anticipated to be accretive to pro forma EPS within three quarters following the closing.

ShareWave, a privately held, fabless semiconductor company with 80 employees, will continue to operate as a Cirrus Logic division from its current location in El Dorado Hills, Calif.

The acqusition is the second announced today. Earlier, Cirrus Logic said it will acquire LuxSonor Semiconductors Inc., a supplier of DVD video processors and audio/video chips, for approximately $65 million in stock.