Samsung to drop $310 million into CSR's handset tech

From CNET News.com: Samsung plans to acquire CSR's handset connectivity and location development operations and technology, the companies announced today.

Under the terms of the deal, Samsung will hand over $310 million to the semiconductor company to take control over its "Handset Operations." In addition, Samsung will take on all 310 CSR employees operating in those divisions.

CSR says that Samsung will also invest $34.4 million into its operation in return for a 4.9 percent equity stake.

"I believe that under Samsung's ownership the handset operations will be in a better position to prosper in the global handset market," CSR CEO Joep van Beurden said today in a statement. "I would like to thank all our colleagues who will be transferring to Samsung for their outstanding service to CSR over many years."

Samsung hasn't said exactly what it has planned for CSR's technology, which is designed for mobile products, but the company's president of System LSI Business, Device Solutions, Stephen Woo, told Reuters today that the move should "strengthen its application processor platform."

View: Article @ Source Site