American giant is the biggest smartphone processor manufacturer in the world
Smartphone hardware giant Qualcomm has announced it is buying British firm CSR as it looks to strengthen its Internet of Things expertise.
The San Diego-based company, best known for its Snapdragon family of processors which power the majority of Android and Windows Phone devices, will pay $2.5bn (£1.56bn) for CSR, making it
The cash offer of £9 a share was unanimously recommended by the CSR board of directors, and is expected to close by the end of the summer of 2015 following regulatory approval.
CSR shares rose 30 percent to 855p following the announcement of the deal.
CSR, formerly known as Cambridge Silicon Radio, had rejected a takeover approach from US firm Microchip Technology in August. Talks between the two companies had been continuing, with a deadline set for today to finalise a deal
The firm, based in Cambridge, specialises in developing Bluetooth technology, which has taken on extra importance recently due to its inclusion in a rising number of wearable and automotive devices.
Its clients includes Beats wireless headphones (pictured above) and Lenovo’s smart remote control, but it seen its chips come into demand for use in wireless audio speakers, connected “smart” home appliances, as well as for “connected car” features.
“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,” said Qualcomm CEO Steve Mollenkopf.
“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.”
The acquisition of CSR follows Qualcomm’s announcement in May that it had acquired Wilocity, an Israeli company specialising in wireless HDMI connections, which can be used to transmit video between computers and displays.
The company has been heavily investing in IoT and connected technologies throughout the past few years, primarily through AllJoyn, an open-source platform that allows devices to share information with other nearby devices.
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