CSR merges with Zoran
CSR and Zoran have successfully used negotiation strategies to reach a merger agreement.
Use of negotiation strategies has resulted in a mergeragreement between imaging and video technology firm Zoran Corporation and wireless connectivity company CSR.
Under the terms of the deal, Zoran shareholders will receive 1.85 ordinary shares of CSR for each share of Zoran common stock.
The firm claimed that the deal would help to strengthen CSR and would "accelerate CSR's strategic shift into higher margin platforms and integrated solutions".
Zoran forecast that the merger would generate run rate cost synergies of $50 million by the end of the year and that it would hep to diversify revenue base by customer, technology and market.
Dr Levy Gerzberg, co-founder, president and chief executive officer of Zoran, commented: "With this transaction, we can leverage the world class technology, talent and resources of two great companies and create compelling opportunities for our customers, employees and consumers."
Zoran was the first firm to sell a single chip IC that would implement six-channel Dolby Digital surround-sound for home cinema applications.