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Samsung acquires British chipmaker CSR's mobile business for $310 million

Samsung acquires CSR's mobile business for $310 million

| Business, Financial & Legal News | Posted: Jul 18, 2012 7:23 am

It looks like Samsung just armed themselves nicely in the global patent war against Apple, by acquiring British chipmaker CSR's mobile business in a deal worth $310 million. CSR specialize in producing Bluetooth, GPS, Wi-Fi and other chips.

 

TweakTown image news/2/4/24920_01_samsung_acquires_british_chipmaker_csr_s_mobile_business_for_310_million.jpg

 

The company announced yesterday that they had entered into an agreement to sell off the business. The deal is all-cash, and will see the mobile connectivity division become part of Samsung's component division. This is the group that, funnily enough, supplies electronics to customers such as... Apple.

 

Samsung will also buy a 4.9-percent share of CSR in a deal worth an additional $35 million, a move which will see Samsung gain access to CSR's intellectual property and ownership of 21 crucial U.S. patents. The deal will also see roughly 300 staff move over to Samsung. CSR chief Joep van Beurden said in a statement:

 

I believe that under Samsung's ownership the handset operations will be in a better position to prosper in the global handset market. I would like to thank all our colleagues who will be transferring to Samsung for their outstanding service to CSR over many years.

NEWS SOURCES:Gigaom.com

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