SiRF buys Centrality in $283M deal

GPS chipmaker SiRF Technology Holdings Inc. announced it purchased Centrality Communications Inc, which makes processors for “mobile navigation devices,” in a deal worth $283 million in stock and cash.
SiRF’s stock bounced more than 3% on the news to around $22.18 per share.
“World class multifunction (system-on-a-chip) 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 Michael Canning, president and CEO of SiRF. “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.”
SiRF sells its GPS and Bluetooth chip offerings to cellphone manufacturers and others. Redwood City, Calif.-based Centrality, which counts 190 employees, sells chips for what it calls “portable navigation-infotainment devices.”