Samsung to buy CSR handset technology for USD 310 mln

News Wireless Global 17 JUL 2012
Samsung to buy CSR handset technology for USD 310 mln
Samsung Electronics has agreed to buy chip developer CSR's mobile handset business for USD 310 million. The takeover includes CSR's development operations in handset connectivity and location, including 310 people, as well as certain rights over CSR's technology in these areas. CSR will continue to control the existing handset products and revenues. In addition, Samsung will buy new shares worth USD 34.4 million in CSR, acquiring a 4.9 percent stake in the UK-based company.

CSR said it plans to return the proceeds from the sale to shareholders. After the deal, it expects to be in a stronger financial position to invest in its remaining product groups: Voice & Music, Automotive Infotainment, Indoors Location, Imaging and Bluetooth Smart. 

CSR also announced that it expects to report second-quarter revenues at the top end of the previously announced guidance range of USD 245-265 million. The company is cautious on the second half and forecast Q3 revenues of USD 260-280 million. The sale to Samsung is expected to close in the fourth quarter. 

Categories:

Mobile

Companies:

Samsung,  CSR

Regions:

Global

Tags:

Components, Semiconductors, Wireless, Wholesale, Handsets, Satellite, M&A buyouts & divestments, Research and development

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