Samsung has today acquired the wireless technology side of CSR’s business. CSR is a UK technology company that deals in single-chip Bluetooth solutions, with Samsung’s $310 million purchase of the phone connectivity technologies allowing the South Korean company to make use of various patents. Around 310 members of staff will also be transferred to Samsung as part of the deal.
Samsung is also taking a 4.9% stake in the company with an additional payment of $34.4 million. CSR believes that the acquisition will allow the company to reach higher profitability in the future thanks to Samsung’s expanding smartphone business: “This transaction will accelerate our transformation into a higher gross margin platform company operating in attractive growth markets where we have a leading market position.”
CSR will grant Samsung the right to use its patents worldwide under a non-exclusive license, with 21 patents being fully transferred to the South Korean company. When the transaction closes in the fourth quarter, CSR expects to return around $285 million to shareholders.
[via The Next Web]