SEOUL, Korea and Cambridge, UK (ots) - Samsung Electronics and CSR Announce Strategic Partnership
Agreement involves Samsung's acquisition of CSR's mobile connectivity and location technology, design resources, patents, license to CSR's relevant IP, and equity investment
Samsung Electronics Co., Ltd., a world leader in advanced semiconductor solutions, and CSR plc, a global leader in wireless connectivity and location technologies, today announced a strategic collaborative relationship by aligning their respective business visions, investments and key technologies.
Under the terms of the agreement, Samsung will gain full access to CSR's mobile connectivity and location technology and transfer certain relevant patents, as well as employ over 300 CSR employees in the selected field for the cash consideration of US$310 million. In addition, Samsung will receive perpetual rights to CSR's intellectual property related to connectivity and location technology such as Bluetooth®, Wi-Fi® and GPS reinforcing Samsung's leadership in mobile component solutions.
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.
As part of the relationship, Samsung will make an investment of approximately US$34 million in CSR's ordinary shares upon closing.
"This strategic partnership combines Samsung's world-class semiconductor technology with CSR's cutting edge wireless connectivity and location expertise. By leveraging CSR's R&D capability, Samsung will strengthen its application processor platform and solidify its position as a leading semiconductor solutions provider," said Stephen Woo, president of System LSI Business, Device Solutions, Samsung Electronics. "Samsung's Exynos processor optimised with these wireless connectivity capabilities will provide our customers with an even broader mobile solution portfolio to expand their business opportunities."
"This transaction will accelerate our transformation into a more competitive platform company operating in attractive growth markets where we have a leading market position.," said Joep van Beurden, CEO of CSR "This cooperation appreciates the global value and competitiveness of CSR achieved through the talent, expertise and dedication of our people. "I believe that under Samsung's System LSI operations the mobile connectivity and location technology will be in a position to prosper in an increasingly competitive global mobile device market."
Upon the completion of the transaction, Samsung plans to organise the resources and assets from CSR as a multi-site R&D centre for connectivity and location products development.
The transaction is expected to be completed by the fourth quarter of this year.
About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2011 consolidated sales of US$143.1 billion. Employing approximately 206,000 people in 197 offices across 72 countries, the company operates two separate organizations to coordinate its nine independent business units: Digital Media & Communications, comprising Visual Display, Mobile Communications, Telecommunication Systems, Digital Appliances, IT Solutions, and Digital Imaging; and Device Solutions, consisting of Memory, System LSI and LED. Recognized for its industry-leading performance across a range of economic, environmental and social criteria, Samsung Electronics was named the world's most sustainable technology company in the 2011 Dow Jones Sustainability Index. For more information, please visit www.samsung.com.
About CSR plc
CSR is a global provider of innovative silicon and software solutions for the location-aware, media-rich, cloud-connected world. Our platforms are optimised for the automotive navigation and infotainment, digital cameras and imaging, connected home infotainment and wireless audio markets. We provide solutions to complex problems in the audio-visual, connectivity and location technology domains across a broad range of markets, with a technology portfolio that includes GPS/GNSS systems, Bluetooth®, Wi-Fi®, FM, NFC, aptX® and CVC[TM] audio codecs, JPEG, MPEG, H.264 imaging, PDL printing, microcontrollers, DSPs and broadband receivers. CSR's technology solutions and market platforms enable its customers to deliver a superior user experience and are adopted by leaders in the auto, computer, home and mobile markets. More information can be found at www.csr.com. Keep up to date with CSR on our blog, YouTube or follow us on Twitter at twitter.com/CSR_plc.
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Samsung and the stylized Samsung design are trademarks and service marks of Samsung Electronics Co., Ltd. Bluetooth® and the Bluetooth logos are trademarks owned by Bluetooth SIG, Inc. and licensed to CSR. Wi-Fi®, Wi-Fi Alliance®, WMM®, Wi-Fi Protected Access®, WPA®, WPA2®, Wi-Fi Protected Setup[TM] and Wi-Fi Multimedia[TM] are trademarks of the Wi-Fi Alliance. Other products, services and names used in this document may have been trademarked by their respective owners.
For Samsung Electronics Sunghae Park Samsung Electronics Co. Ltd. Tel. +82-(0)31-209-7037 Email: firstname.lastname@example.org For CSR FTI Consulting (Financial Public Relations) James Melville-Ross Jon Snowball Tel: +44 (0) 20 7831 3113