CSR completes SiRF merger; global HQ to be in Cambridge; US ops to run out of San Jose
CSR plc and SiRF Technology Holdings Inc, have completed the merger between SiRF and a wholly owned subsidiary of CSR, creating a pure play provider of connectivity and location platforms, and a company with the scale, technology and strategy to enable its customers to address emerging opportunities in mobile markets.
CSR said the merger delivers an enlarged development team, a strong IP portfolio, and a broad base of market leading customers, who will be able to deliver new user experiences of connectivity and location technologies in a diverse range of devices such as mobile phones, personal navigation devices, in-car navigation and telematics systems, laptop and netbook PCs, mobile internet devices, digital cameras, gaming machines, cellular accessories, and consumer electronic devices.
CSR CEO Joep van Beurden said: "We have created a new force in the industry and a world class organization with the commercial, technical and operational scale to build on CSR and SiRF's existing customer relationships and deliver the next generation of connectivity and location enabled products.
"Our strategic goal is to address the existing and emerging needs of our combined customer base for connectivity and location technologies. The potential applications and benefits to the end user of connectivity plus location are only just starting to open up, and these exciting new opportunities will be driven by our unique combination of leading location technologies and connectivity solutions."
Kanwar Chadha, co- founder of SiRF becomes a board member and Chief Marketing Officer of CSR.
For CSR's customers, the merger means CSR's Connectivity Centre products are augmented by GPS technologies that have been widely adopted. SiRF brings to CSR a strong IP portfolio in GPS and assisted GPS (A-GPS), dead reckoning and location centric platforms.
SiRF's customers benefit from enhancements to SiRF's Location Platforms, with CSR's Connectivity Centre capabilities.
The enlarged CSR group will have its global headquarters in Cambridge, with SiRF's headquarters in San Jose California becoming CSR's US headquarters. The combined CSR group enters the prestigious list of the world's top 10 fabless semiconductor companies, with a combined customer list including six of the top seven handset manufacturers, the top five personal navigation device makers, the top two automotive telematics suppliers, and other leading auto and consumer electronics providers.
CSR's share price has been steadily increasing this year to be currently priced at 357.00p. The group is now valued at about £650m.
