Qualcomm Completes CSR Deal; To Be Modestly Dilutive To FY16 Earnings

(RTTNews) - Qualcomm Inc. (QCOM) announced that its indirect, wholly-owned subsidiary, Qualcomm Global Trading Pte. Ltd, has completed its acquisition of CSR plc, a leading fabless provider of end-to-end semiconductor and software solutions for the Internet of Everything and automotive segments. Cambridge Silicon Radio Limited will be renamed Qualcomm Technologies International, Ltd., which will become a subsidiary of Qualcomm Technologies.

Qualcomm estimates that on a non-GAAP basis the acquisition will be modestly accretive to earnings per share in fiscal 2016 consistent with prior guidance. Based on preliminary estimates, Qualcomm expects the transaction to be modestly dilutive to GAAP earnings for fiscal 2016 driven primarily by acquisition-related items.