Qualcomm announced this week that it has reached agreement with CSR to acquire the UK firm for a cash consideration of approximately $2.5 billion. Qualcomm said that the acquisition complements its current offerings by adding products, channels and customers in the important growth categories of Internet of Everything (IoE) and automotive infotainment.
CSR, formerly known as Cambridge Silicon Radio, rejected a takeover approach from Microchip Technology in August, as the offer was considered too low (Display Monitor Vol 21 No 35). The Qualcomm deal was announced on the same day that the UK Takeover Panel had set as a deadline for a revised offer for CSR from Microchip Technology. Analysts have suggested that the announcement from Qualcomm could now trigger interest in the UK company from other parties keen to gain access to CSR’s wireless Bluetooth technology.