[Satellite Today 02-13-09] The British wireless chip firm, CSR, has agreed to buy Sirf Technology Holdings for $136 million in stock, CSR announced Feb. 12. The deal, approved by both company boards, is expected to close in the second quarter of 2009.    
    CSR called the purchase price, at $2.06 per share, a "steal" made possible by the weak stock market. As a result of the deal, CSR acquired the $116 million in cash that remained on Sirf’s balance sheet, essentially acquiring the company for just $20 million in stock.  Combined, both companies will have $378 million in cash.
    Sirf lost $398 million in 2008, compared to a $10 million loss in 2007. Revenues in 2008 fell from $329 million to $232 million. CSR said will use the Sirf chips to further integrate more functions into its radio chips for smartphones and personal navigation devices.