After 28 years as an independent developer of processors for the digital entertainment industry, Zoran Corporation will become a part of Britain’s CSR.
Round-up of today’s M&A deals
After 28 years as an independent developer of processors for the digital entertainment industry, Zoran Corporation will become a part of Britain’s CSR. Zoran will be delisted, while CSR will become dual-listed on the London Stock Exchange and Nasdaq.
CSR and Zoran will merge to create a global business specialising in wireless connectivity, location-aware, imaging, video, and audio products.
Zoran founder and CEO Dr. Levy Gerzberg will become a director of CSR following the merger. Zoran develops processors for digital entertainment solutions, digital cameras, and printers. CSR supplies services for wireless communications.
CSR’s headquarters will remain in the UK, and it will have 3,000 employees worldwide.
Joep van Beurden, CEO of CSR, comments: ‘The merger with Zoran is a further important step in CSR’s strategic development. We are excited about the innovative new opportunities open to the combined company in the growing area of wireless connectivity, location-aware products, imaging and video, and audio technology.’
Levy Gerzberg, co-founder CEO of Zoran, says that the merged company could enter new markets by combining CSR communications solutions with Zoran’s products.
‘Bringing CSR and Zoran together will enable us to create new and compelling propositions for our customers as we deliver highly integrated platforms with leading capabilities. Zoran is the clear market leader in digital cameras, printers and the US DTV space.
‘We expect the merger will enable CSR to integrate its connectivity solutions across all our product platforms and allow us to tackle multiple new markets, such as automotive infotainment, gaming and others.’
Financial details of the deal were not disclosed.
Round-up of today’s M&A deals
- Private equity firm Revolution Capital Group has made a majority investment in the Capital Exchange (CapXG), an interactive, web-based, networking site which serves the financial industry
Value: undisclosed
Advisers: undisclosed
- Gravity, based in Bristol, is to merge its business with Duttons
Value: undisclosed
Advisers: undisclosed
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- The Avaloq Group, a reference for integrated and comprehensive banking solutions, has acquired a majority stake in B-Source AG, a banking business process outsourcer
Value: undisclosed
Advisers: Reichmuth & Co Privatbankiers, NBAD Private Bank (Suisse) SA and QNB Banque Privée
- DiCentral, a computer software developer for B2B integration and Electronic Data Interchange to the supply chain, has bought out Trading Partner and Unite! from EMANIO
Value: undisclosed
Advisers: undisclosed
- Eaton Corporation has purchased the assets of IE Power
Value: undisclosed
Advisers: undisclosed
- KonoAudio a boutique designer, developer and manufacturer of fashion headphones, has been acquired by SMS Audio’s to strengthen its operational, distribution and marketing capabilities
Value: undisclosed
Advisers: undisclosed
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