SiRF and Conexant Join Global Positioning System Businesses.(Brief Article)

SiRF Technology Inc. of San Jose, Calif., a developer of global positioning system-enabled location technology, and Conexant Systems, Inc., a provider of semiconductor system solutions for communications applications, said they signed a definitive agreement under which SiRF will obtain assets relating to the global positioning system (GPS) business of Conexant.

Under the terms of the agreement, Conexant's GPS assets, including intellectual property, will be contributed to SiRF in exchange for stock in SiRF, currently a privately held company. As a part of the agreement, Conexant will receive certain license rights to SiRF's GPS technology, and will retain rights to Conexant-developed GPS technology for use in mobile communications applications.

The closing of the transaction is subject to regulatory approval, approval by SiRF's stockholders and other customary closing conditions. This business combination bolsters the core technology-development team at SiRF and provides SiRF with complementary products, technologies, intellectual property and a customer base to significantly enhance its position in the rapidly growing GPS consumer and automotive market segments.

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