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Samsung buys CSR's mobile business

Posted: 18 Jul 2012 ?? ?Print Version ?Bookmark and Share

Keywords:Samsung Electronics? CSR? handset connectivity? Bluetooth?

Samsung Electronics has shelled out $310 million for CSR's handset connectivity and location operations and associated technology. The Korean company has also agreed to invest an additional $34.4 million to take a 4.9 percent stake in publicly-held CSR.

The deal leaves CSR free to focus on higher margin business and growth areas such as voice and music, automotive infotainment, indoors location finding, imaging and Bluetooth smart.

CSR has entered into a conditional binding agreement to transfer of CSR's development operations in handset connectivity and location, including 310 people, together with certain rights over CSR's technology in these areas. However, none of the revenues associated with CSR's existing handset products will be transferred.

In addition CSR retains the rights to use future connectivity and location technology such as CSR9800, in areas other than handsets and mobile devices.

CSR plans to return up to $285 million of the Samsung money to shareholders via a tender offer. The deal is expected to close in 4Q12.

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