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United Kingdom : CSR acquires RECIVA for $4.5M

August 8, 2014

Seeking to expand its portfolio of home-based video and audio connectivity services, CSR has acquired a Cambridge-based pioneer of internet radio for $4.5 million (2.7m).

Reciva Ltd has more than 200,000 subscribers who use its services to connect to internet radio around the world.

The company also provides what for CSR could be a key addition in its efforts to deliver connectivity across the home entertainment ecosystem, by offering an interface which is capable of streaming multiple internet radio and music services to internet connected audio products.

The Cambridge-based silicon firm that became well-known in Bluetooth, CSR, expects to see growing demand in the wireless home for products using Bluetooth, Bluetooth Smart and Wi-Fi, which it can then integrate with software like its wireless audio and video syncing aptX Low Latency and now, the Reciva internet radio service.

CSR says Reciva's acquisition will boost its Voice & Music business by adding streaming audio capabilities to its networked audio products through CSR's Service Delivery Platform.

CSR will augment the $4.5 million cash consideration with an additional $0.5 million (0.3m), based upon the delivery of certain IP by Reciva.

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Source: TendersInfo (India)

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