Qualcomm Buys British Chipmaker CSR
Qualcomm is buying British chip maker CSR in a deal worth roughly $2.5 billion (roughly Rs. 15,300 crores) because it pushes aggressively into know-how that connects devices over the web.
Qualcomm said Wednesday that it will pay GBP 9 per CSR share, valuing the company at GBP 1.6 billion. The board of CSR Plc. Unanimously approved the buyout, however it nonetheless requires the approval of CSR shareholders.
Qualcomm Inc., one of the most biggest makers of chips used in cellular devices, expects the deal so as to add to its adjusted revenue per share in fiscal 2016. The deal is expected to close through the top of the summer season of 2015.
Qualcomm Buys British Chipmaker CSR in $2.5 Billion Deal
Shares of Qualcomm, based totally in San Diego, are up quite prior to the opening bell.
Steve Mollenkopf, CEO of Qualcomm, mentioned in a remark, “The addition of CSR’s know-how management in Bluetooth, Bluetooth smart and audio processing will reinforce Qualcomm’s position in providing essential options that pressure the fast boom of the web of everything, including industry areas comparable to transportable audio, car and wearable units. Combining CSR’s highly evolved providing of connectivity technologies with a powerful monitor record of success in these areas will liberate new opportunities for growth. We sit up for working with the progressive CSR team globally and further strengthening our expertise presence in Cambridge and the united kingdom.”