HPC Wire: Samsung Electronics completes transfer of Handset Connectivity and Location Development Operations and Technology from CSR
Samsung Electronics Co. Ltd., a world leader in advanced semiconductor solutions, and CSR plc, a global leader in wireless connectivity and location technologies, are pleased to announce that, further to the receipt of all necessary shareholder and regulatory approvals, their strategic partnership agreement announced on July 17, 2012, is effective from today.
Under the terms of the agreement, over 300 CSR employees will join Samsung which include a number of senior managers and engineers from Europe, U.S.A. and India, who will focus on the development of advanced connectivity, and location products and technologies. Klaus Buehring, Senior Vice President of Product Development at CSR will join Samsung’s System LSI Business to lead the connectivity product development activities. In addition, Samsung receives perpetual rights to CSR’s intellectual property and gains full access to CSR’s mobile connectivity and location technology. The transfer of the operations and technology from CSR is for a consideration of US$310 million in cash.