Qualcom to Buy CSR for $2.5 billionColby Hochmuth | October 16, 2014
Qualcomm Inc. says it plans to acquire British chipmaker CSR for $2.5 billion.
This acquisition positions San Diego-based Qualcomm to expand its capabilities in the Internet of Everything and automotive infotainment by adding channels, customers and products, according to a Qualcomm press release.
"The addition of CSR's technology leadership in Bluetooth, Bluetooth Smart and audio processing will strengthen Qualcomm's position in providing critical solutions that drive the rapid growth of the Internet of Everything (IoE), including business areas such as portable audio, automotive and wearable devices," Steve Mollenkopf, Qualcomm CEO says in statement.
This is Qualcomm’s second big purchase in the last few months. In July it bought Wilocity, which makes Wi-Fi products that can be used in appliances with web connectivity and home Internet routers.
Qualcomm also developed AllJoyn, an IoE-type platform that uses open source technology to allow devices to share information with other nearby devices.
"Combining CSR's highly advanced offering of connectivity technologies with a strong track record of success in these areas will unlock new opportunities for growth. We look forward to working with the innovative CSR team globally and further strengthening our technology presence in Cambridge and the UK," Mollenkopf says.
Joep van Beurden, CSR chief executive tells Reuters the two companies are a good match.
"If you look at us, we are focused on all the accessories around the phone," he tells Reuters. "In voice and music, we are strong in headsets, sound bars and speaker docks; and we are strong in cars, which more and more are an extension of the phone with infotainment."
The transaction is expected to close by the end of summer 2015summer 2015.