CSR Sells Israeli Camera Business To Qualcomm

CSR has sold the remaining rump of its Israeli business which it got when it bought Zoran for nearly half a billion dollars in 2011.

The buyer is Qualcomm who says it wants the 15 man team to boost its capabilities in cameras on phones.

The price is $45 million.

CSR has been running down the business for some time.

Tags: qualcomm

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4 Comments

  1. david manners
    July 03, 2014 11:26

    Actually, I misled you on the price paid by CSR for Zoran, SilverMan, my apologies. CSR offered $679 million for Zoran in February 2011 (when Zoran had $261 million in cash) but then Cisco dropped a project which used Zoran chips, and the Japanese tsunami affected orders for Zoran chips and Zoran issued a profits warning. The price for Zoran was dropped to $233 million. CSR was clearly after Zoran’s imaging technology. In August 31 2011, when the revised deal was done, Joep van Beurden, CEO of CSR said: “This merger brings together CSR’s skills in location, wireless connectivity, and audio with Zoran’s expertise in imaging and video.” Immediately after the merger CSR started sacking all the people not involved in the camera-on-a-chip project aimed at digital still cameras. Last December, due to the slump in the market for stand-alone digital cameras caused by people preferring to use the cameras in their phones, CSR said it was pulling out of the camera-on-a-chip development. So I tend to think it was more of a cock-up and a market shift than money laundering.

  2. SilverMan
    July 03, 2014 10:40

    This smells more like money laundering than anything close to business. Perhaps Zoran investors wanted to exit and CSR was engaged to to the dancing.

  3. david manners
    July 02, 2014 16:56

    Nowt, as far as I know, SilverMan, CSR said last December they were exiting the phone camera imaging business and this is the final exit. It seems the Zoran purchase was a bit of a cock-up.

  4. SilverMan
    July 02, 2014 16:51

    What are they retaining that accounts for around 90% of the price they paid?

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