BlueTooth technology provider CSR, of Cambridge, United Kingdom, has acquired NordNav Technologies AB, of Sweden, and Cambridge Positioning Systems Ltd. (CPS) of also of Cambridge, UK. Taken together, the acquisitions will allow the company to provide software-based low-cost GPS suitable for mass-market mobile phones and Personal Navigation Devices (PNDs).
BlueTooth technology provider CSR, of Cambridge, United Kingdom, has acquired NordNav Technologies AB, of Sweden, and Cambridge Positioning Systems Ltd. (CPS) of also of Cambridge, UK. Taken together, the acquisitions will allow the company to provide software-based low-cost GPS suitable for mass-market mobile phones and Personal Navigation Devices (PNDs).
CSR says it will apply its own experience in embedding radio technologies into the mobile platform and expects its first autonomous and assisted GPS product offerings that support satellite navigation and other location-based services to be available during the first half of 2007, with cost expected to subsequently reduce to less than $1 per unit.
CSR acquired CPS for its Extended GPS (EGPSTM) software algorithms for mobile handsets and network server software. NordNav is a pioneer in commercializing GNSS software receivers, including an embedded GPS solution for mobile handset–based positioning.
NordNav was bought 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 was 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.
In total, more than 40 employees have transferred to CSR from NordNav and CPS.
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