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U.S. Customs OKs 'Redesigned' GPS Chip Import
June 1, 2009U.S. Customs and Border Protection has determined that GPS chips redesigned by SiRF Technology Holdings, Inc., of San Jose, California, fall outside an exclusion order issued by the U.S. International Trade Commission, reported the Reuters news service. Following the announcement, SiRF stock rose 14 percent.
The approved redesigned SiRF products, and products that contain the SiRF chips, are now allowed to be imported for sale in the U.S. The ITC had previously ruled that SiRF had infringed on three of Broadcom’s GPS patents. The ITC also issued an exclusion order barring imports of the company's infringing GPS chips and products containing the chips.
In February, Bluetooth wireless chip company CSR Plc agreed to buy SiRF for $136 million. The deal is expected to close in the second quarter.
Shares of SiRF reached $4.54, but ended the day up 11 percent at $4.40.
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