Joep van Beurden, CEO of CSR said, In bringing together the combined capabilities and broad range of CSR and SiRF technologies and platforms, we have created a new force in the industry and a world class organization with the commercial, technical and operational scale to build on CSR and SiRFs existing customer relationships and deliver the next generation of connectivity and location enabled products.
Our strategic goal is to address the existing and emerging needs of our combined customer base for connectivity and location technologies. The potential applications and benefits to the end user of connectivity plus location are only just starting to open up, and these exciting new opportunities will be driven by our unique combination of leading location technologies and connectivity solutions.
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.
Technology innovation represents the foundation for both CSRs and SiRFs success in the market place, said James Collier, co-founder, board member and Chief Technology Officer of CSR. We look forward to combining the complementary expertise of our teams to take innovation to the next level in our multifunction radio and system platforms to address emerging customer and market needs.
For CSRs customers, the merger with SiRF means CSRs Connectivity Centre products are augmented by GPS technologies that are well respected and enjoy widespread adoption. SiRF brings to CSR a strong IP portfolio in GPS and assisted GPS (A-GPS), dead reckoning and location centric platforms.
SiRFs customers benefit from enhancements to SiRFs Location Platforms, with CSRs Connectivity Centre capabilities a strategy of Smart Integration delivering industry leading performance, low cost and small size.
The enlarged CSR group will have its global headquarters in Cambridge, UK, with SiRFs headquarters in San Jose California becoming CSRs US headquarters. The combined CSR group enters the prestigious list of the worlds top 10 fabless semiconductor companies, with an enviable combined customer list including six of the top seven handset manufacturers, the top five personal navigation device makers, the top two automotive telematics suppliers, and other leading auto and consumer electronics providers.
CSR is a leading provider of multifunction connectivity and location platforms. CSRs technology portfolio includes Bluetooth, GPS, FM, Wi-Fi (IEEE802.11), UWB, NFC and other technologies to enable silicon platforms that incorporate fully integrated radio, baseband and microcontroller elements. CSRs Connectivity Centre is designed to enhance the user experience with mainstream mobile devices by intelligent integration of multiple wireless connectivity and location-awareness technologies. CSRs Location Platforms are complemented by wireless connectivity and multimedia capabilities for high-volume mobile consumer devices and commercial applications.
CSRs technology has been adopted by market leaders into a wide range of mobile consumer devices such as mobile phones, automobile navigation and telematics systems, portable navigation devices (PNDs), wireless headsets, mobile computers, mobile internet devices, GPS recreational devices, digital cameras, mobile gaming, plus a wide range of personal and commercial tracking applications.
More information can be found at www.csr.com
Forward Looking Statements
This announcement contains certain statements (including, statements concerning plans and objectives of management for future operations or economic performance, or assumptions related thereto) that are forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 in relation to the effects of the merger with SiRF (the merger), now a direct, wholly-owned subsidiary of CSR plc, and other future events and their potential effects on CSR. These forward-looking statements can be identified by words such as believes, estimates, anticipates, expects, intends, may, will, plans, should, may and other similar expressions, including statements relating to: creating a leading pure play provider of connectivity and location, enabling customers to address emerging opportunities in mobile markets, yielding a strong IP portfolio and broad base of market-leading customers, allowing the combined companys customers to deliver new user experiences in a diverse range of devices, building on the existing customer relationships, delivering the next generation of connectivity and location, addressing the emerging needs of the combined customer base, driving opportunities by uniquely combining location and connectivity, adding a revolutionary dimension to many consumer devices, whether customers want location aware products, whether the potential for combining connectivity and location will materialize, whether customers will benefit from adding the combination of CSRs Connectivity Center with SiRFs Location Platform. Such forward-looking statements represent the current expectations and beliefs of management of CSR, and are based upon numerous assumptions regarding CSRs business strategies and the environment in which CSR will operate and therefore involve a number of known and unknown risks, contingencies, uncertainties and other factors, many of which are beyond the control of CSR.
There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements. These factors include, but are not limited to: the ability to realise the expected cost and revenue synergies from the merger in the amounts or in the timeframe anticipated; the development of the markets for CSRs products; CSRs ability to develop and market a multifunction radio product containing GPS-based location technology and Bluetooth technology in a timely fashion; consumer and market acceptance of CSRs products and the products that use CSRs products; decreases in the demand for CSRs products; excess inventory levels at CSRs customers; declines in average selling prices of CSRs products; cancellation of existing orders or the failure to secure new orders; CSRs failure to introduce new products and to implement new technologies on a timely basis; CSRs failure to anticipate changing customer product requirements; CSRs failure to deliver products to its customers on a timely basis; the timing of significant orders; increased expenses associated with new product introductions, masks, or process changes; the commencement of, or developments with respect to, any litigation; the cyclicality of the semiconductor industry; overall economic conditions; the lengthy design cycle for CSRs products; CSRs ability to secure sufficient capacity from third-parties that manufacture, assemble and test its products; the potential for any disruption in the supply of wafers or assembly or testing services due to changes in business conditions, natural disasters, terrorist activities, public health concerns or other factors; the yields that CSRs subcontractors achieve with respect to CSRs products; possible errors or failures in the hardware or software components of CSRs products; CSRs ability to successfully manage its recent expansion and growth; CSRs ability to protect its intellectual property; CSRs ability to attract and retain key personnel including engineers and technical personnel; competitive developments in CSRs markets; difficulty in predicting future results; and CSRs ability to successfully and efficiently integrate SiRF following the merger and other recent or future acquisitions.
Each forward looking statement speaks only as of the date hereof. CSR does not undertake to release publicly any updates or revisions to any forward looking statements contained herein, otherwise than required by law.