News
Issue #2002 - 38 (October 2002)
(Updated Oct. 8, 2002)

ACQUISITIONS, MERGERS & AGREEMENTS

CSR Announces Completion of $19 million Fund Raising

Richardson, TX - October 3, 2002 - CSR, (Cambridge Silicon Radio), the leading provider of single-chip radio devices and the industry's first single-chip Bluetooth(tm) solution, today announced that it has secured $19 million of new funding following a successful private equity placement. The round was led by LDC and Scottish Equity Partners, with participation from existing institutional investors. CSR will use the funds raised to expand market activities and further invest in the development of its single-chip Bluetooth solution and complimentary wireless communications technologies. CSR is advised by Credit Suisse First Boston's Technology Group in London.

"Following the significant progress we have made over the past 12 months and the future potential of the single-chip wireless communications market, the Board decided that this was the right time to examine further funding opportunities," said John Hodgson, Chief Executive Officer, CSR. "I am very pleased that we are now able to announce the completion of a successful round of additional funding. The funds raised will enable us to build on our success to date, expand our marketing efforts, and provide working capital to fund the further investment in product development and production ramp."

Hodgson continued, "The continued support received from the investment community is a positive endorsement of the potential we see for CSR in the future. We look forward to continued success as we take full advantage of the dynamic growth market in which we operate."

The Bluetooth semiconductor market is now starting to achieve significant growth. According to IDC, the market is expected to reach $2.6 billion in revenue by 2006, up from $76.6 million in 2001, with widespread adoption expected during 2003. With 57% of Bluetooth qualified product designs being powered by CSR pure single-chip solutions, CSR is well positioned to benefit from this growth.

For More Information: http://www.csr.com

MobileInfo Comments and Advisory:  CSR has indeed successfully delivered an integrated single-chip solution in the Bluetooth market. Its Bluecore chip is being tried by several Bluetooth hardware manufacturers. It has worked with Microsoft to provide software support for Bluetooth in Windows XP. 

Note: This news release may contain forward-looking statements. Readers should take appropriate caution in developing plans utilizing these products, services and technology architectures.  All trademarks used in this summary are the property of their respective owners.