CSR has agreed to acquire Zoran Corporation in a deal valued at US$679 million. This represents a premium of about 39% over Zoran’s closing price on 18 February 2011.
CSR, based in Cambridge, England, is a leading global provider of personal wireless technology and its product portfolio covers Bluetooth, GPS, FM and Wi-Fi. As at 1 February 2011, it employed approximately 1,500 people and in the year to 31 December 2010 generated gross profits of US$376.6 million on revenues of US$800.6 million.
Zoran, which is headquartered in Sunnyvale, California, provides imaging and video technology for digital camera, home entertainment and multifunction printer products. In 2010, Zoran had total pro forma revenues of $441 million. The company has about 1,550 employees.
The companies said their merger will enable them to supply differentiated, integrated technology that addresses the rapidly growing market for connected, location-aware multimedia devices including handsets, digital cameras and home entertainment equipment. The companies are anticipating new growth opportunities within global consumer markets, such as Internet enabled, location-aware digital cameras and the next generation of home entertainment products and peripherals. http://www.zoran.com http://www.csr.com
