Merger strengthens position in GPS market

The agreement will see SiRF merge with CSR, increasing the scale of CSR in the GPS technology market and boost its position in both Bluetooth and GPS. The merger is expected to complete late in the second quarter of 2009 and will see SiRF’s Diosdado P Banatao and Kanwar Chadha join the CSR board of non-executive and executive director respectively. CSR’s ceo, Joep van Beurden (pictured) said: “Financially, strategically and commercially, this is a compelling transaction. We expect it to be significantly earnings accretive, to enhance the enlarged group’s financial strength and cash position and to create new and wider revenue opportunities that neither party on its own could pursue as effectively. Strategically, this deal considerably strengthens our leadership position in the Connectivity Centre, a strategy which we believe encapsulates the way our marketplace is developing. Commercially, there is a powerful, complementary fit between the technologies, skill sets and customer relationships of both companies and the way we both see our customers’ needs evolving.”