Chip maker CSR buys Zoran for $679m

CSR has agreed to buy the US-listed group Zoran in a $679m (£419m) all-share deal that adds imaging and video to the British chip maker's Wi-Fi, bluetooth and GPS location technologies.

"The [new group] is going to be in a position to be very relevant to camera manufacturers," CSR's chief executive, Joep van Beurden, said. "The same is true for digital televisions, in cars, in gaming and in handsets." The deal, which gives Zoran investors 1.85 CSR shares per Zoran share, will leave CSR with 65 per cent of the group.