The combined CSR group enters the list of the top 10 fabless semiconductor companies,said a press release from CSR. Based on CSR’s and SiRF’s results for fiscal year 2008,on a pro forma basis,the combined companies would have had sales of approximately $927 million. The enlarged CSR group will have its global headquarters in Cambridge,UK,with SiRF’s headquarters in San Jose California becoming CSR’s US headquarters.
“CSR and SiRF have a shared vision of using innovation to bring the benefits of wireless connectivity and location to mainstream consumers and enterprises and to enable new and exciting user experiences”,commented Kanwar Chadha,co- founder of SiRF and newly appointed board member and Chief Marketing Officer of CSR. “We believe that through this merger,our customers and consumers will derive benefits from a much stronger player whose focus is on delivering best in class connectivity and location platforms.”
Former SiRF stockholders own approximately 27% and CSR shareholders own approximately 73% of the combined company.