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Silicon Laboratories

(SLAB) - Get Silicon Laboratories Inc. Report

acquired privately held Silicon Magike, an Austin, Texas-based company that's creating high-voltage, high-performance, mixed-signal integrated circuits.

The transaction is valued around $16 million. The company might make added payments based on the performance of the acquired business over the 18 months ending June 30, 2007.

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Silicon Labs expects its third-quarter results to include purchased R&D expenses and transaction costs as a one-time charge. The acquisition will lower earnings per share in the third quarter.

Shares of Silicon Labs, itself an integrated circuits designer based in Austin, were up $1.42, or 4.6%, to $32.05.