Reginal Thomas
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CSR Rejects Microchip's Approach

CSR, a chipmaker in Britain, has rejected an approach from Microchip Technology. CSR demands that its U.S. rival pay more if it wants to raise its role in the "Internet of Things". CSR shares shot up 37% giving the company a market cap of $2.2 billion. CSR has developed smarter Bluetooth technology that connects devices, allowing people to control lighting and heating in their homes.