Qualcomm has agreed to acquire Wireless chip specialist CSR in a transaction valued at GBP 1.56 billion, or USD 2.5 billion. CSR shareholders will get 900 pence per share, 37 percent than the closing share price on 14 October. The cash offer has been unanimously recommended by the CSR board of directors.
Qualcomm said the deal will is in line with its growth strategy and will complement its current offerings by adding products, channels, and customers in the important growth categories of Internet of Everything (IoE) and automotive infotainment.
The acquisition is subject to regulatory conditions but is expected to close by the end of summer 2015. Qualcomm expects the acquisition to be accretive to non-GAAP earnings per share in fiscal 2016, the first full year of combined operations.
