Samsung Sells Stake in UK Chipmaker
Published on: 16th Jan 2014
Note -- this news article is more than a year old.
By: Ian Mansfield
Samsung has sold its remaining stake in the UK semiconductor manufacturer CSR some 18 months after it took the stake as part of previous deal.
In July 2012, UK based Cambridge Silicon Radio (CSR) sold its development operations in handset connectivity and location, including 310 people, together with certain rights over CSR's technology in these areas to Samsung Electronics for USD310 million in cash.
At the time Samsung paid USD34.4 million in return for a 4.9% stake in CSR.
Samsung has now sold that stake, for £65.5 million, netting it a £42.5 million profit on the shares.
The sale was reportedly to a number of smaller investors and follows the recent announcement by CSR that it was pulling out of the digital camera market.
The company is now mainly focused on Bluetooth and related products.