British chipmaker agrees to takeover from Qualcomm

British chipmaker CSR said today that it has agreed to a takeover from US giant Qualcomm.

The cash offer, pitched at 900 pence per share, values the group at 1.56 billion pounds (USD 2.5 billion, 2.0 billion euros), it added in a statement.

"The board believes this represents a very attractive outcome for CSR shareholders, customers and employees," said CSR chairman Ron Mackintosh.

CSR, formerly known as Cambridge Silicon Radio, had rejected a takeover approach from US firm Microchip Technology in August.