Qualcomm today announced it has reached a deal valued at $2.5 billion to acquire UK semiconductor company CSR.
The acquisition is expected to give Qualcomm a leg up on products, channels, and customers in both the Internet of Things (IoT) and automotive telematics markets.
“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,” Qualcomm CEO Steve Mollenkopf said in a statement.
Qualcomm has made a strong push in the IoT market with its AllSeen Alliance, an IoT consortium based on its homegrown AllJoyn open-source standard. Last summer Qualcomm welcomed Microsoft to AllSeen, bringing the total of companies involved to 51.
IDC forecasts the IoT market will be worth $7.1 trillion by 2020.
Qualcomm will buy the entire issued and to be issued share capital of CSR and expected the transition to close by the end of summer 2015. Qualcomm expects the transaction to be accretive to non-GAAP earnings per share during fiscal 2016.
Filed Under: Infrastructure, IoT • IIoT • internet of things • Industry 4.0