Samsung Electronics Acquires CSR’s mobile business for $310m

Samsung Electronics acquires Cambridge Silicon Radio’s Mobile Business for $310million

Source: RNS

SEOUL–Samsung Electronics Co. (005390.SE), the world’s largest technology firm by revenue, said Tuesday that it has acquired the mobile technology business of a U.K.-based semiconductor design company, Cambridge Silicon Radio PLC (CSR.LN), for $310 million.

The acquisition is part of Samsung’s efforts to solidify its position in mobile processor chips and other components, amid rapidly increasing demand for smartphones and tablet computers.

While Samsung is a major vendor of smartphones and tablets, the South Korean electronics giant is also a major supplier of chips and other components used in mobile devices.

With the latest acquisition, Samsung said it will gain full access to CSR’s mobile connectivity and location technology as well as its relevant patents.

Samsung also said it will invest about $34 million in CSR’s ordinary shares in order to strengthen their business partnership.

By leveraging CSR’s research and development capability, Samsung will strengthen its application processor platform, said Stephen Woo, president of System LSI Business at Samsung Electronics.

The financial transaction is expected to be completed by the fourth quarter of this year, Samsung added.