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SiRF pays $20 million for Motorola GPS chipset lines

Posted: 06 Jun 2005 ?? ?Print Version ?Bookmark and Share

Keywords:sirf technology? gps chipset? mg2000? wireless? handset?

SiRF Technology Holdings Inc., a provider of GPS-enabled location technology, has paid $20 million in cash to acquire GPS chipset product lines from Motorola Inc. As part of the agreement, SiRF also has become a preferred GPS technology supplier to Motorola.

SiRF said it plans to integrate Motorola's existing GPS chipset products, including the MG2000 used in telematics applications and the MG4x00 used in cellular handsets, into its product portfolio. SiRF has also acquired the rights to some of the GPS chipset products that Motorola currently has under development.

SiRF expects the transaction to result in a revenue upside of about 10 percent for the second half of 2005. EPS impact is expected to be non-dilutive for the rest of the year 2005 and be accretive for the calendar year 2006.

"The opportunity to acquire a team with a critical mass of GPS expertise, product lines that complement our existing products, and a very strong customer base were decisive factors in making this transaction," said Michael Canning, president and chief executive officer of SiRF, in a statement.

"Motorola is a leader in the integration of GPS in a range of wirelessly connected systems, especially in two of our key target platforms - automotive and wireless handsets - and we are pleased for the opportunity to become a preferred supplier of GPS technology to them," said Kanwar Chadha, SiRF founder, in the same statement.

- Peter Clarke

EE Times





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