SEOUL, Korea & Cambridge, UK--()--Samsung Electronics Co. Ltd. ("Samsung"), a world leader in advanced semiconductor solutions, and CSR plc ("CSR": LSE: CSR.L, NASDAQ: CSRE), 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.
About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2011 consolidated sales of US$143.1 billion. Employing approximately 206,000 people in 197 offices across 72 countries, the company operates two separate organizations to coordinate its nine independent business units: Digital Media & Communications, comprising Visual Display, Mobile Communications, Telecommunication Systems, Digital Appliances, IT Solutions, and Digital Imaging; and Device Solutions, consisting of Memory, System LSI and LED. Recognized for its industry-leading performance across a range of economic, environmental and social criteria, Samsung Electronics was named the world’s most sustainable technology company in the 2011 Dow Jones Sustainability Index. For more information, please visit www.samsung.com.
About CSR plc
CSR is a global provider of innovative silicon and software solutions for the location-aware, media-rich, cloud-connected world. Our platforms are optimised for the automotive navigation and infotainment, digital cameras and imaging, connected home infotainment and wireless audio markets. We provide solutions to complex problems in the audio-visual, connectivity and location technology domains across a broad range of markets, with a technology portfolio that includes GPS/GNSS systems, Bluetooth®, Wi-Fi®, FM, NFC, aptX® and CVC™ audio codecs, JPEG, MPEG, H.264 imaging, PDL printing, microcontrollers, DSPs and broadband receivers. CSR's technology solutions and market platforms enable its customers to deliver a superior user experience and are adopted by leaders in the auto, computer, home and mobile markets. More information can be found at www.csr.com. Keep up to date with CSR on our blog, YouTube or follow us on Twitter at twitter.com/CSR_plc.
Samsung and the stylized Samsung design are trademarks and service marks of Samsung Electronics Co., Ltd.
Bluetooth® and the Bluetooth logos are trademarks owned by Bluetooth SIG, Inc. and licensed to CSR.
Wi-Fi®, Wi-Fi Alliance®, WMM®, Wi-Fi Protected Access®, WPA®, WPA2®, Wi-Fi Protected Setup™ and Wi-Fi Multimedia™ are trademarks of the Wi-Fi Alliance.
Other products, services and names used in this document may have been trademarked by their respective owners.