Samsung to buy British chip firm CSR's mobile unit
{{#rendered}} {{/rendered}}Samsung Electronics Co. said it will buy British chip designer CSR's mobile connectivity and location technology business for $310 million in cash.
Samsung said Tuesday that the deal will give it rights to use CSR's patents related to Bluetooth, wireless-fidelity and the Global Positioning System that are used in hand-held devices including smartphones and tablet computers.
Samsung said it will also hire more than 300 employees of the British firm and take an equity stake in CSR by buying $34 million of its ordinary shares. Samsung aims to finalize the deal by the end of this year.
{{#rendered}} {{/rendered}}The South Korean chipmaker said the acquisition will strengthen its mobile application processor division. Samsung supplies mobile chips to global smartphone makers including Apple Inc.