CSR and SiRF complete merger

CSR and SiRF complete merger
CSR and SiRF Technology Holdings said today they have completed their merger on Friday June 26.

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.

Monday, June 29th 2009

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