China: Qualcomm has agreed to buy UK-based Cambridge Silicon Radio (CSR) to strengthen its position in the Internet of Things market. Qualcomm believes that CSR’s offering of connectivity technologies, and the strong track record of success it has in these areas, will unlock new opportunities for the company. The deal was struck at $2.5 billon last October. And, now we are hearing that the acquisition will close on August 13. And with that, CSR will be renamed to Qualcomm Technologies International Limited. In fact, CSR has already issued a letter to its customers explaining the change. The company has asked the customers to make the appropriate change in their purchase order systems before August 13.
Source: Nasdaq
