Qualcomm announced that its indirect, wholly-owned subsidiary, Qualcomm Global Trading, has completed its acquisition of Cambridge Silicon Radio (CSR), fabless provider of end-to-end semiconductor and software solutions for the Internet of Everything (IoE) and automotive segments.
The acquisition, which was completed for an enterprise value of approximately $2.2 billion ($2.4 billion equity value), complements Qualcomm’s current offerings by adding a compelling portfolio of new products, sales channels and a large number of customers in the areas of IoE and automotive, the company said.
CSR will be renamed Qualcomm Technologies International, which will become a subsidiary of Qualcomm Technologies.
CSR is currently an indirect, wholly-owned subsidiary of CSR that operates, along with its affiliates, substantially all of CSR’s engineering, research and development functions, along with substantially all of the CSR products and services businesses.
“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, chief executive officer, Qualcomm.
“CSR’s complementary strengths in connectivity, audio technologies and systems-on-chips will help strengthen Qualcomm Technologies’ position in the IoE and automotive industries, and add to a broad and highly advanced portfolio,” Mollenkopf added.
Joep van Beurden, chief executive officer, 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.”