Qualcomm acquires CSR

Qualcomm acquires CSR

Qualcomm acquires CSR

One of the largest chip makers Qualcomm agreed on Wednesday to acquires CSR, the British chip maker located in Cambridge, for £1.6 billion ($2.5 billion).

 Under the terms of the deal, Qualcomm, with headquarters in San Diego, would pay £9 a share for CSR’s shareholders, which is 27 percent premium on CSR’s closing share price on Tuesday.

“We believe that the offer from Qualcomm provides CSR shareholders with an immediate and certain value which is highly attractive,”  Ron Mackintosh, chairman of CSR, said in a statement on Wednesday.

Also in a statement on Wednesday, Steve Mollenkopf, the chief executive of Qualcomm, said, “The addition of CSR’s technology leadership in Bluetooth, Bluetooth Smart and audio processing will strengthen Qualcomm’s position in providing critical solutions that drive the rapid growth of the Internet of Everything, including business areas such as portable audio, automotive and wearable devices.”

This acquisition came after rejecting acquisition from US rival Microchip Technology. Shares of british chip maker grows up about 33 percent to £8.78, on Wendesday trading in London.

 Qualcom said it expected to close the deal in the summer of 2015.

 Qualcomm advisor was Deutsche Bank, while Goldman Sachs and JPMorgan Chase advised CSR. This deal requires regulatory and shareholder approval.

 Mr. Stakebay says:

 After slowing smarthpone market growth, companies are focusing on other sectors. This deal will aim to Internet of Everything, it means connecting of everything, from household devices to wireless linking cars to communicate with one another.

 

CEO of CSR………………………Joep Van Beurden………(2007-present)…………$ 2 111 027 (2013)

CEO of QUALCOMM…………..Steven M. Mollenkopf…….(2014-present)……….$ 14 308 066 (2013)

 

QUALCOMM

CSR

Revenue

$ 24.866 billion (2013)

$ 960.71 Million (2013)

Operating income

$  7.23 billion (2013)

$ – 48.386 Million (2013)

Profit

$  6.853 billion (2013)

$ – 46.329 Million (2013

Total assets

$ 45.516 billion (2013)

$ 883.243 Million (2013)

Total Equity

$  36.087 billion (2013)

$ 629.562 Million (2013)

Employees

 31 000 (2013)

2146 (2013)

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