Qualcomm acquires British Bluetooth pioneers CSR for roughly £1.6 billion
Qualcomm, the makers of the ubiquitous Snapdragon mobile processors, has bought British chip maker CSR for $2.5 billion. Microchip Technology were also in the running to acquire CSR, who specialise in making Bluetooth and navigation chips, but were turned down in August, saying their undisclosed price wasn’t high enough.
In a statement, Qualcomm’s chief executive Steve Mollenkopf said, “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.
“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.”
With CSR under its belt, Qualcomm will be able to add the company’s key areas of work in Bluetooth, automotive infotainment, location services and wireless audio technology to its ever growing mobile communications business. This could possibly pave the way for aptX high-quality Bluetooth to be included with every new high-end smartphone, as well as more products and services connecting your phone with your car.
CSR announced that its shareholders would receive £9 per share in cash under the terms of the deal, taking the acquisition to an approximate value of $2.5 billion (roughly £1.6 billion). While the deal has not yet been finalised, it has been recommended by CSR directors and is expected to close by summer 2015.