QUALCOMM is buying British chip maker CSR in a deal worth approximately $US2.5 billion ($A2.7 billion) as it pushes aggressively into technology that connects devices over the internet.
QUALCOMM said on Wednesday that it will pay STG9 per CSR share.
CSR concentrates on the auto, consumer, and voice and music segments. It has 2130 employees in 11 countries. The company's fiscal 2013 revenue totalled $US960.7 million.Qualcomm Inc, one of the biggest makers of chips used in mobile devices, expects the deal to add to its adjusted earnings per share in fiscal 2016.The board of CSR Plc unanimously approved the buyout, but it still requires the approval of CSR shareholders.The deal is expected to close by the end of the summer of 2015.Shares of Qualcomm, based in San Diego, rose slightly before the opening bell on Wednesday.
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