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Henry Fielding(1707 - 1754)
Novelista y dramaturgo inglés
|CSR to deliver sub $1 GPS, acquires NordNav Technologies AB and Cambridge Positioning Systems Ltd|
CSR plc (“CSR” or the “Company”), today announces the acquisition of the entire
issued share capital of NordNav Technologies AB (“NordNav”) and the assets of Cambridge
Positioning Systems Ltd (“CPS”).
These acquisitions, when combined, will allow CSR to
provide software-based high performance GPS (Global Positioning System) suitable for
mass-market mobile handsets, PNDs (Personal Navigation Devices), PCs and other portable
devices for an incremental price that falls to less than $1 of the overall bill of materials when
used with CSR’s Bluetooth. The acquisitions will allow CSR to offer the most competitive,
complete and technically advanced mobile GPS solution available at a very low additional
NordNav, based in Sweden, has been acquired for an initial cash consideration of $40 million.
A further cash consideration of up to $35 million may be payable subject to future
performance objectives being met by NordNav. CPS, based in Cambridge, UK, has been
acquired for a total cash consideration of $35 million. Both NordNav and CPS were private
companies, principally owned by venture capital. The acquisitions will both be financed
entirely from CSR’s existing cash resources.
CSR expects to offer its first GPS products during the first half of 2007, and anticipates both
acquisitions will be earnings enhancing in 2008. The acquisitions are a further step in CSR’s
strategy of diversification which already includes WiFi, FM, UWB (Ultra-Wide Bluetooth) and
NordNav brings to CSR a world-class software based GPS solution. CSR will combine this
with CPS’s specialised location system technology to deliver significant performance benefits
over traditional standalone GPS offerings including the ability of the CSR solution to work
indoors, in deep urban areas and provide a shorter location fix.
ABI Research* forecast that the number of GPS chips shipping into mobile phones will
increase at the rate of 45% per year between 2006 and 2011 to around 200 million chips.
CSR expects its low cost software based GPS will drive an increased penetration into mobile
NordNav has already successfully implemented an embedded software receiver for mobile
GPS positioning whose operational performance is as good as industry standard hardware
centric implementations. CPS’s technology is able to provide a shorter time to first fix, which
reduces satellite acquisition time and provides power savings. Both companies have substantial patented intellectual property.
CSR expects its first GPS product offerings to enable satellite navigation and other locationbased
services. CSR’s GPS technology will also support the Galileo standard. CSR will be
demonstrating its GPS technology at 3GSM in February 2007.
As well as bringing a significant new product offering, the acquisitions will provide CSR with
significant additional research and development engineering talent. In total, over 40
employees have transferred to CSR from NordNav and CPS.
John Scarisbrick, CEO of CSR commented:
“We are delighted with these acquisitions. We will be able to provide a technically superior
GPS solution which at less than $1, allows GPS to be affordable to all. CSR’s customers are
enthusiastic for GPS at this much lower price point and I am confident that we will see a
significant increase in mobile handset attach rates for GPS and location based services.
Our focus remains on the handset market and we are executing on our strategy to add value
beyond Bluetooth in the phone. We will continue to invest both organically and via
complementary acquisitions to further improve our product offering, enhance our customer
proposition and maintain our competitive advantage.”
Miércoles, 17 Enero, 2007 - 11:37