CSR snapped up by Qualcomm for £1.56bn
CHIPMAKER Qualcomm has trumped US rival Microchip Technology and agreed to buy UK company CSR which is behind the technology used in Dr Dre's Beats headphones.
Qualcomm has agreed to buy Cambridge-based CSR for £1.56 billion.
Its 900p a share follows CSR's rejction of an undisclosed offer from Microchip and sent CSR shares soaring 197p to 855½p.
Previously known as Cambridge Silicon Radio, CSR is a specialist in Bluetooth technology when designing chips and components used in mobile phones and satellites.
CSR employs about 1,900 staff while Qualcomm has around 400 employees in the UK.
The deal will mean that Qualcomm can use CSR's Bluetooth technology to move into new markets, such as wearable technology.
Steven Mollenkopf, Qualcomm chief executive, 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."
