Reginal Thomas
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Qualcomm Offer $2.5 Billion To Acquire CSR

Qualcomm Inc. has agreed to acquire CSR Plc for $2.5 billion. Qualcomm will pay 900 pence a share in cash for CSR. The firm is paying a 56.5% premium on the share price in August. Steven M. Mollenkopf, Qualcomm Chief Executive, said the addition of CSR would allow the firm to diversify into the markets for short range, wireless bluetooth chips and audio processing used in portable audio, automotive controls and wearable devices. He also said, "Combining CSR's highly advanced offering connectivity technologies with a strong track record of success in these areas will unlock new opportunities for growth."