Junko Yoshida, EETimes
10/15/2014 12:20 PM EDT
MADISON, Wis. — Qualcomm Inc., the world's largest cellphone chip vendor, has agreed to buy CSR for ₤1.57 billion ($2.5 billion) to strengthen its presence in the Internet of Things.
CSR, a pioneer in short-range Bluetooth-based wireless connectivity, develops voice and audio processing tools used in portable, automotive, and wearable devices. Most recently, it devised CSRmesh, a Bluetooth-based mesh technology described by some observers as a potential ZigBee killer.
Qualcomm would pay 900 pence ($14.37) a share for CSR, a 56.5% premium on the share price before the start of the offer period in August. The all-cash offer was announced Wednesday just hours before a deadline imposed by UK regulators for Microchip Technology to mount a fresh bid for CSR.