Qualcomm made known of its acquisition of blue-tooth and GPS chip producer of CSR for a lofty amount of $2.5 billion in an attempt to expand further its electronics mobile devices empire.
Qualcomm now has just added chip producing CSR to its growing list of acquisitions in various fields such as internet technology, internet of things, automotive electronics, and mobile communications.
Based in Cambridge, England, CSR focuses on various segments such as Bluetooth chips and navigation. It has also expanded its empire by plunging into automotive electronics and the so-called “internet of things” which are devices which are an amalgam of smart computing and connectivity.
Pegged at £9.00 per share, the purchase of CSR is fetched at around £1.6 billion ($2.5 billion anchored on the exchange rate of 1 US$ = UK 1.6057 pound). The price of the acquisition has been collectively proposed by the CSR board. The deal is conditional on closing stipulations, like regulatory approvals.
Qualcomm has been a force to reckon with in the various types of mobile devices’ chip over the years, and will probably undergo evaluation from the regulators. The deal is anticipated to be sealed by the summer of 2015.
Chief executive of Qualcomm stated that, “The addition of CSR’s technology leadership in Bluetooth, Bluetooth Smart 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,” and added, “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.”
CSR purportedly had disapproved the acquisition offer tendered by microcontroller producer, Microchip Technology. Qualcomm’s enticing acquisition offer to CSR hits the nail right on its head.