CSR pays £91m for US satnav chipper

Bluetooth technology firm CSR today bought US microchip maker SiRF in a £91 million all-share deal.

Fourth-quarter revenues were disappointing for Cambridge-based CSR, which expects demand to remain weak this year.

But it says the enlarged outfit is well-placed for a recovery.

SiRF supplies satnav firms like TomTom and Garmin.