Samsung has acquired the mobile division of British chipmaker company CSR for $310 million. CSR specializes in creating chips for Bluetooth, GPS, and WiFi. The deal was made in all cash and the company will be integrated into Samsung’s component division. This is the group that supplies chips to customers like Apple.
Samsung is also buying 4.9% in CSR for $35 million. CSR will share their intellectual property with Samsung including 21 U.S. patents. Around 300 employees will be moved to Samsung.
?I believe that under Samsung?s ownership the handset operations will be in a better position to prosper in the global handset market,? stated CSR chief Joep van Beurden. ?I would like to thank all our colleagues who will be transferring to Samsung for their outstanding service to CSR over many years.?
CSR started in Cambridge, England 14 years ago and went public in 2004. CSR faced hardship after their own customers started to slip like Nokia and RIM. CSR’s shares fell by around 50% over the past 2 years.