The more than 70% premium that Cirrus Logic is willing to pay for Wolfson Microelectronics shows the esteem in which the Scottish company is held within its sector.

As might be expected shares have risen by a similar amount in morning trading on the London Stock Exchange.

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While Wolfson has struggled to convert its undoubtedly impressive product suite into profits in recent years it has been hit by market changes such as the withdrawal of Blackberry from the smartphone market.

However its partnership with Samsung and a concerted push into the Chinese smartphone market look likely to reap further dividends in the coming years.

Although mobile devices remain the main driver in the business Wolfson has diversity with its products contained in everything from in-car entertainment systems and voice activated hoovers to wearable technology such as smartwatches.

Analysts have suggested Wolfson's medium term future looked bright. The greater scale that Cirrus offers should help to speed up that process.