Qualcomm Incorporated has agreed to acquire UK-based semiconductor business CSR plc. CSR, which was previously known as Cambridge Silicon Radio, specialises in Voice and Music, Document Imaging, Automotive Infotainment, Bluetooth Smart and Indoor Location products.
The deal is worth approximately £1.6 billion and is expected to be completed by the end of summer 2015, subject to regulatory and shareholder approval.
Steve Mollenkopf, Qualcomm’s CEO, said “The addition of CSR’s technology leadership in Bluetooth, Bluetooth Smart1 and audio processing will strengthen Qualcomm’s position in providing critical solutions that drive the rapid growth of the Internet of Everything, including business areas such as portable audio, automotive and wearable devices. Combining CSR’s highly advanced offering of connectivity technologies with a strong track record of success in these areas will unlock new opportunities for growth. We look forward to working with the innovative CSR team globally and further strengthening our technology presence in Cambridge and the UK.”
[Full announcement (pdf]