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Qualcomm Buys CSR for $2.4 Billion

By Ken Briodagh August 13, 2015

Qualcomm Incorporated announced recently that its subsidiary, Qualcomm Global Trading has completed its acquisition of CSR, a fabless provider of end-to-end semiconductor and software solutions for the IoT and automotive segments, at an enterprise value of about $2.2 billion.

The acquisition is designed to complement Qualcomm’s current offerings by adding new products, sales channels and a large customer base in the areas of IoT and automotive, both of which are key strategic goals for the company.

“As we strive to connect billions more devices, automobiles and people within the Internet of Everything, we are enthusiastic about the growth that this combination will foster,” said Steve Mollenkopf, CEO, Qualcomm Incorporated. “CSR's complementary strengths in connectivity, audio technologies and systems-on-chips will help strengthen Qualcomm Technologies' position in the Internet of Everything and automotive industries, and add to a broad and highly advanced portfolio.”

Image via Shutterstock

While the accounting for the transaction is not yet finalized, Qualcomm estimated that the acquisition will be modestly accretive to earnings per share in fiscal 2016 consistent with prior guidance. In addition, based on preliminary estimates, the company expects the transaction to be modestly dilutive to GAAP earnings for fiscal 2016 driven primarily by acquisition-related items.

“We are pleased to join a recognized leader such as Qualcomm Technologies at an exciting time as customers race to satisfy the growing consumer desire for more and more seamlessly connected devices in their 'smart' homes, offices and cars,” said Joep van Beurden, CEO, CSR. “Our employees have a strong history of pioneering new products and collaborating with customers to deliver critical technology requirements such as interoperability, low power and connectivity. Together with Qualcomm Technologies, we are better positioned to meet our customers' needs today and into the future.”




Edited by Maurice Nagle
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