World News: CSR acquires NordNav Technologies and CPS

World News:  CSR acquires NordNav Technologies and CPS

CSR has acquired the entire issued share capital of Sweden-based NordNav Technologies for $40 million and the assets of UK-based Cambridge Positioning Systems for $35 million. Both acquisitions are cash transactions.

The NordNav acquisition is subject to a further cash payment of up to $35 million, subject to future performance objectives being met by NordNav.

These acquisitions, when combined, will allow CSR to provide software-based high performance GPS suitable for mass-market mobile handsets, PNDs, PCs and other portable devices, for an incremental price that drops to less than $1 of the overall bill of materials when used with CSR’s Bluetooth.

NordNav has already successfully implemented an embedded software receiver for mobile GPS positioning, whose operational performance is as good as industry standard hardware centric implementations.

CPS’s technology is able to provide a shorter time to first fix, which reduces satellite acquisition time and provides power savings.

Both companies have substantial patented intellectual property.

The acquisitions also provide CSR with significant additional R&D engineering talent, with more than forty employees transferring from NordNav and CPS to CSR.

The acquisitions are a further step in CSR’s strategy of diversification, which already includes Wi-Fi, FM, UWB (Ultra-Wide Bluetooth) and WiBree.

CSR expects its first GPS products to enable satellite navigation and other location-based services. CSR’s GPS technology will also support the Galileo standard. The company plans to offer these GPS products during the first half of 2007.

According to CSR’s chief executive officer John Scarisbrick, the company will be able to provide “a technically superior GPS solution, which, at less than $1, allows GPS to be affordable to all.”


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