News Article
SiRF to buy Swedish firm Kisel
SiRF technology - a US firm specialising in satellite location products - has signed a definitive agreement to acquire Swedish radio and mixed-signal chip maker Kisel Microelectronics.
SiRF technology - a US firm specialising in satellite location products - has signed a definitive agreement to acquire Swedish radio and mixed-signal chip maker Kisel Microelectronics.
Under the deal, SiRF will pay up to US$33 million in a combination of cash and shares. The boards of both companies and shareholders of Kisel have approved the acquisition. Completion of the deal is expected this quarter.
"The Kisel acquisition is part of our vision to deliver reliable location information in a world of increasing wireless connectivity," said founder and vice president Kanwar Chadha.
"The companys excellent reputation for technical expertise and service with some of our key potential customers and partners in wireless industry was a critical factor in our due diligence."
Under the deal, SiRF will pay up to US$33 million in a combination of cash and shares. The boards of both companies and shareholders of Kisel have approved the acquisition. Completion of the deal is expected this quarter.
"The Kisel acquisition is part of our vision to deliver reliable location information in a world of increasing wireless connectivity," said founder and vice president Kanwar Chadha.
"The companys excellent reputation for technical expertise and service with some of our key potential customers and partners in wireless industry was a critical factor in our due diligence."
