GPS-enabled silicon and premium software location platform developer SiRF Technology Holdings announced its acquisition of mobile navigation processor solutions developer Centrality Communications Inc. for a total consideration of $283 million in stock and cash. Both companies' boards approved the merger, which is expected to close in the upcoming quarter.
The eight-year-old Centrality brings with it a series of system-on-a-chip platforms focusing on consumer location, information and entertainment applications based on the firm's proprietary dual-core processor architecture. Each SoC boasts integrated GPS, DSP, graphics and multimedia accelerators.
"World class multifunction SoC platform expertise is a significant differentiator for us, especially as we address the emerging needs of portable navigation, automotive and consumer markets with value-added products," said SiRF president and CEO Dr. Michael Canning in a prepared statement. "Centrality's team has a proven track record of delivering innovative solutions to market, and we believe that the combined entity can provide a very attractive product portfolio to address the price performance and functionality needs of our customers."
For more on the SiRF/Centrality merger:
- read this release