Qualcomm To Buy CSR In $2.5 Billion Deal

MarketWatch Pulse

Qualcomm Inc. said Wednesday that it has offered to buy U.K. chip maker CSR PLC in a $2.5 billion (1.56 billion pounds) deal. CSR shareholders will receive 900 pence in cash for each share under terms of that deal. "The addition of CSR's technology leadership in Bluetooth, Bluetooth Smart and audio processing will strengthen Qualcomm's position in providing critical solutions that drive the rapid growth of the Internet of Everything, including business areas such as portable audio, automotive and wearable devices," said Steven M. Mollenkopf, chief executive officer of Qualcomm, in a statement. In August, CSR rejected a takeover offer from Microchip Technology Inc. .

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