CSR today announced it has acquired NordNav Technologies AB and Cambridge Positioning Systems Ltd that, combined, will allow the company to provide software-based low cost GPS suitable for mass-market mobile phones and PNDs
The two acquisitions enable CSR to offer a GPS solution to handset, PND and other portable device manufacturers, offering an important added-value technology. CSR's acquired patented GPS solution is a software-based architecture that allows an incremental price that falls to less than $1 of the overall BoM when used with CSR's Bluetooth technology. CSR's patented methods to reduce both the number of processor cycles and the time to first fix, give an extremely power efficient overall solution with less than half the processing requirements of alternative solutions, whilst remaining flexible enough to perform highly dynamic and accurate tracking. With availability during H107, the software GPS technology acquired from NordNav will also take up 80 percent less area than competing hardware solutions and is the lowest cost solution on the market, with a price that is set to fall to less than $1. This means that CSR's GPS technology is practical for mass-market mobile applications including low-medium end feature cellular handsets, Smartphones, PNDs, and other portable devices.
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.