South Korea's Samsung Electronics said Tuesday it
had signed a deal to buy a mobile technology unit belonging to British
firm Cambridge Silicon Radio (CSR) in a bid to improve its handheld
devices.
Under the deal signed Monday, Samsung will
buy CSR's facility which develops mobile connectivity and location
technologies -- used in devices such as smartphones and tablet PCs -- by
the end of this year, for $310 million.
Samsung, the world's largest maker of
smartphones, will also take over related patents held by the British
firm and 300 workers at the unit, it said in a statement.
It also said it would buy CSR shares worth
$34 million to boost ties with the British firm, one of the global
leaders in Bluetooth, Wi-Fi and Global Positioning System technologies.
"The deal will enable both companies to
better align their current development efforts and future product
roadmaps, while accelerating their time-to-market for rapidly evolving
demands within the market," Samsung said.
"This transaction will accelerate our
transformation into a more competitive platform company operating in
attractive growth markets where we have a leading market position," Joep
van Beurden, CEO of CSR, said.
The South Korean firm, which is battling with
Apple's iPhone and iPad for supremacy in the lucrative smartphone and
tablet market, has seen heavy demand for its new Galaxy SIII phone,
which was introduced in May.
The technology giant also bought in June
Nanoradio, a Swedish company that develops energy-efficient chipsets for
Wi-Fi services in smartphones and other mobile devices.
Retweet this story
No comments:
Post a Comment